The social network priced its second batch shares at $55.05 a piece. December 20, 2013 3:02 PM PST Facebook CEO Mark Zuckerberg (Credit: James Martin/CNET) Facebook said Friday that it has priced the 70 million shares that the company and its insiders are selling through a secondary offering at $55.05. Facebook, itself, is selling a little more than 27 million shares, which means it will net close to $1.5 billion through the sale. The social network announced earlier this week that it would put the shares up for sale. In the offering, CEO and co-founder Mark Zuckerberg will sell 41.35 million of his own shares to cover tax obligations, as well as gift 18 million shares to charity. Venture capitalist Marc Andreessen, meanwhile, will offload 1.6 million of his shares. The offering is expected to close on December 26. Facebook's stock finished Friday at $55.07 and is trading up slightly on the after-hours market. This story is developing...
The social network priced its second batch shares at $55.05 a piece.
Facebook CEO Mark Zuckerberg
(Credit: James Martin/CNET)
Facebook said Friday that it has priced the 70 million shares that the company and its insiders are selling through a secondary offering at $55.05. Facebook, itself, is selling a little more than 27 million shares, which means it will net close to $1.5 billion through the sale.
The social network announced earlier this week that it would put the shares up for sale. In the offering, CEO and co-founder Mark Zuckerberg will sell 41.35 million of his own shares to cover tax obligations, as well as gift 18 million shares to charity. Venture capitalist Marc Andreessen, meanwhile, will offload 1.6 million of his shares.
The offering is expected to close on December 26. Facebook's stock finished Friday at $55.07 and is trading up slightly on the after-hours market.
This story is developing...
