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Media

Facebook’s Final Private Share Sale Is Near

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By Jon C. Ogg Updated Published

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You have already been told that Facebook is asking for private market exchanges to cease trading its shares.  You have also been told about a fund dedicated solely to buying Facebook shares from SecondMarket.  We now have the final notice on when Facebook shares will conclude trading after SecondMarket has given notice to its pool of accredited investors this week.

“Since you are watching Facebook as an accredited investor on SecondMarket, we wanted to let you know that we will be conducting one FINAL auction for Facebook Class B Common Stock.  The final auction begins today and will conclude on Tuesday, April 3rd.”

SecondMarket noted that those accredited investors who wish to purchase between 5,000 and 20,000 shares “will participate through a fund administered by an affiliate of SecondMarket.”  The notice also states that all bids between 5,000 and 20,000 shares will be represented on pass-through basis by the fund and those who wish to participate must submit an indication of interest.

The end of Facebook share trading is near, and that means that an IPO should only be weeks away.  Early May was the latest indication we saw.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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