Artem Voloskovets
The offering was increased from an initial $22.5 billion to $25 billion, an 11.1% rise.
Offering Details
| Metric | Value |
| Shares offered | 40 million |
| Price per share | $625 |
| Gross proceeds | $25 billion |
| Additional share option | 6 million |
| Maximum offering size | $28.75 billion |
| Expected net proceeds | $24.9 billion |
| Expected closing | October 29, 2026 |
| Forward settlement deadline | November 19, 2027 |
Comparison With Initial Offering
| Metric | Initial | Final |
| Offering value | $22.5B | $25B |
| Increase | — | +11.1% |
| Share price | Not specified | $625 |
The $625 offering price represents a 0.88% discount to Meta's October 26 closing price of $630.56.
Financing Structure and Dilution
The offering uses forward sale agreements with Morgan Stanley and Goldman Sachs. Meta expects to receive approximately $24.9 billion upon settlement.
- Potential dilution: 40 million shares equal approximately 1.56% of existing Class A and Class B shares.
- Additional financing: Meta is also offering $12.5 billion in mandatory convertible preferred securities with a 6.50% annual dividend.
- Combined financing: $37.5 billion before additional underwriter options.
- Use of proceeds: General corporate purposes, including support for AI infrastructure investments.
Artem Voloskovets
