Facebook has just filed a seventh amendment to its S-1, which you can read here.
TechCrunch yesterday reported that FB was going to sell extra shares (update: or at least that underwriters were going to exercise the option to do so), and they were spot on. AllThingsD reported the price range, and they were also spot on.
CNBC then said Facebook would file a S-1 amendment today, and guess what: they were also spot on.
Looks like ‘sources familiar with the matter’ are very eager to share what they know these days, but what did you expect with an IPO this size?
Here are the money (ha!) quotes from the revised filing:
We and the selling stockholders have granted the underwriters the right to purchase up to an additional 50,612,302 shares of Class A common stock to cover over-allotments.
We anticipate that the initial public offering price will be between $34.00 and $38.00 per share.
Update: the NYT’s Evelyn Rusli wisely points out that the additional 50,612,302 shares on offer, reported as a rumor yesterday, was actually already right there to be found in the last S-1 amendment (at least since May 9). Oh well.
Facebook’s Class A common stock has been approved for listing on NASDAQ under the symbol “FB”. In total, Facebook will offer just south of 337.5 million shares to potential investors. Also, weak demand my backside.
The social network boasts over 900 million monthly active users, 526 million daily active users on average and roughly 488 million monthly active mobile users.
At the high end of the $34 – $38 price range, the IPO would see Facebook raise $12.1 billion, assuming a midpoint $36 per-share price. All in all, the company is looking to raise $14.7 billion tops.
The price range may see Facebook’s valuation increase to over $100 billion.
According to Fortune’s Dan Primack, Facebook’s initial market cap would be roughly $81.25 billion at the top of its share price range. Fully diluted, he adds, Facebook’s market cap would be $107 billion (others peg it at $104 billion).
Previously, Facebook said it would price its shares between $28 and $35, which would have valued it between $77 billion and $96 billion.
Likely, Facebook will stop taking orders for its IPO tonight, and go public on Friday.
Zuckerberg will be hanging out at Facebook HQ when FB’s stock lists.