Facebook has filed a new amended S-1 before its IPO which happens later this week, and the company has announced that they will be selling an extra 50,162,302 shares and the have also announced that the expected new price range is between $34 and $38 per share.
That means that Facebook is offering close to 337.5 million shares, which would see the company raising a massive $12.1 billion assuming the shares go for around $36.
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.
Facebook had previously said that it would offer its shares between $28 and $35, and with the new price it could give Facebook a valuation of over $100 billion.
Source The Next WebFiled Under: Technology News, Top News