Seeking Alpha

Facebook announces follow-on offering of 70M shares

  • Facebook (FB) announces a 70M share follow-on offering of Class A common stock.
  • The offering will include 41.35M shares being sold by Mark Zuckerberg which are being unloaded in part to pay taxes on a stock option purchase of Class B shares.
  • FB -3.7% to $53.54.
Comments (10)
  • FB is such an hype balloon.
    19 Dec 2013, 06:53 AM Reply Like
  • Down 20%
    19 Dec 2013, 07:53 AM Reply Like
  • Big time. Income tax bill for Zuck really that big? Insider sales outpacing buys 3:1 - http://bit.ly/1cCtgQs
    19 Dec 2013, 08:18 AM Reply Like
  • "Insider sales outpacing buys" - Yes because most of them are automatic sales being triggered when the stock hits a certain price. You would be stupid not to pull out part of your investment to secure some of those returns and balance your portfolio. Insider or not...

     

    And Zuck owns over half the company, 43 million shares is nothing to his over a billion shares.
    19 Dec 2013, 11:33 AM Reply Like
  • Thanks for being the voice of reason here. Those who missed the boat will look for any reason to spell doom and gloom and wish the stock price to drop.
    19 Dec 2013, 01:42 PM Reply Like
  • "Hype balloon". You gotta be kidding. Look at rev growth! Up >100% in my position.
    21 Dec 2013, 01:57 PM Reply Like
  • @ bgold1955

     

    FB is worth >$140B for $2.6B in TTM FCF. There's a lot of hope and FCF growth priced into these shares.
    24 Dec 2013, 07:53 PM Reply Like
  • At least he was smart enough to hold back $41M shares and get $16 per share more (54 vs. 38), that's a cool $640M move.
    19 Dec 2013, 07:15 AM Reply Like
  • What's missing from this headline is the proceeds from Zuckerberg sale of the 41+mm class A is being used to pay the taxes on an exercise of 60mm class B shares. B shares have 10 votes per share vs the class A one vote. Typical , leave out the facts and highlight that which appears negative.
    19 Dec 2013, 08:17 AM Reply Like
  • Zuckerberg exercise amounts to basically an insider purchase of 18mm shares. Seems like a strong vote on the company , billion dollars is not pocket change.
    19 Dec 2013, 08:55 AM Reply Like
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