Facebook prices 70M-share offering at $55.05

|About: Facebook (FB)|By:, SA News Editor

Facebook's (FB) offering price is just $0.07 below its Friday close of $55.12, and only $0.52 below where shares traded when the offering was first announced.

The social networking giant stands to receive gross proceeds of $1.49B by selling 27M new shares. Another 43M will be sold by existing shareholders, 41.35M of which come from Mark Zuckerberg.

With Facebook having ended Q3 possessing $9.3B in cash/investments and no debt, the company has no pressing need to raise additional funds. Is a major acquisition being planned?