Meta Stock After Pricing: $25 Billion of Common at $625,…
By Tobi Opeyemi Amure
AI summary of the source article
Meta priced an equity offering consisting of $25.0 billion of Class A common stock at $625.00 per share and $12.5 billion in mandatory convertible preferred depositary shares. Both offerings are scheduled to close on 29 October.
Why it matters
Meta stock is funding a buildout that its operations are no longer covering.
Key facts
- Meta priced $25.0 billion of Class A common stock at $625.00 per share through forward sale agreements settling on or before 19 November 2027.
- The offering includes 250 million depositary shares at $50 each, carrying a 6.50% dividend with a $1,000 liquidation preference.
- Both offerings are scheduled to close on 29 October, with Morgan Stanley and Goldman Sachs serving as lead bookrunners.
Source excerpt · FinanceFeeds
Meta priced its equity raise overnight at terms that upsize the common leg and set the cost of the preferred. The company sold $25.0 billion of Class A common at $625.00 a share, raised from the $22.5 billion announced on Monday , alongside 250 million depositary shares at $50 carrying a 6.50% dividend. Meta receives none of the $25 billion now. The common leg runs through forward sale agreements,…