UPDATED FACEBOOK IPO VALUATION TERMS (FB)

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Facebook (NASDAQ: FB) has disclosed the following valuation metrics in its latest amendment to its S-1 filing ahead of its planned initial public offering:

The total filing is for up to 388,027,654 shares after the overallotment option with a price of $28.00 to $35.00 per share.  Facebook is offering 180,000,000 shares of its Class A common stock and selling holders are offering 157,415,352 shares of Class A common stock.

The holders of Class B common stock will hold approximately 96.3% of the voting power of the entire outstanding capital stock following this offering and founder Mark Zuckerberg will hold or have the ability to control approximately 57.3% of the voting power of the outstanding capital stock following this offering.

The company projects that net proceeds from the sale of the Class A common stock will be approximately $5.6 billion if at the mid-point of the range at $31.50 per share.

Without the collection of an overallotment, the total of Class A and Class B shares outstanding after the initial public offering will be 2,138,085,037 shares.  Unfortunately, that number of shares outstanding excludes many more shares under stock option plans, Zuckerberg options, Instagram shares, and future issuance shares.

FULL FILING

JON C. OGG

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