There was a lot of speculation that Facebook would be valued at about $100B — but the high end of the range of stock prices it identified in an SEC filing today suggest that the company’s worth a maximum of $96B. While the amounts could change, Facebook says it plans to sell 337.4M shares — equal to $10.6B based on the mid-point of the range, $31.50. About $5.7B would go to the company, which says it might use some cash “for acquisitions of complementary businesses, technologies, or other assets.” Another $5B would go to current investors selling shares including Accel Partners and Digitial Sky Technologies. Company founder Mark Zuckerberg also is selling 30.2M shares, After the IPO, he’ll control 57.3% of the votes from the two-tiers of stock. Once the SEC approves Facebook’s prospectus, executives can go on a road show to interest institutional investors in buying stakes in the social networking giant. Shortly after, the company would be traded on NASDAQ under the ticker symbol “FB.” Facebook says that net earnings in the first three months of this year fell 12% to $205M on revenues of $1.1B, up 44.7%.
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This article was printed from http://www.deadline.com/2012/05/facebook-expects-stock-to-sell-for-28-to-35-a-share-less-than-expected/