Facebook, Zuckerberg To Sell 70M Shares

Law360, New York (December 19, 2013, 1:17 PM EST) -- Facebook Inc. said Thursday that it and certain shareholders will sell 70 million shares of its class A common stock, as it prepares to be listed on the exclusive Standard & Poor's 500-stock index beginning Friday.

In a Thursday filing with the U.S. Securities and Exchange Commission, Facebook said the company itself will offer more than 27 million shares, with certain stockholders offering nearly 43 million additional shares, including CEO Mark Zuckerberg, who will offer 41.35 million shares himself. Based upon the closing sale price of...
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