Meta Platforms Inc. announced on Monday that it plans to raise approximately $35 billion by offering $22.5 billion worth of its Class A common stock and $12.5 billion worth of its series A depository shares. The social media giant revealed that it plans to grant the underwriters of the depository shares a 30-day option to purchase up to an additional 37.5 million depository shares to cover over-allotments if they exist, while the underwriters of the common stock offering will be granted the same time period to acquire up to an additional $3.4 billion in Class A shares. Meta also unveiled its plan to launch an at-the-market offering of up to $60 billion in its new Class C shares when they begin trading.
The company noted that it aims to use the proceeds for general corporate purposes and to meet the demands of its growing AI expansion. Here we are to serve you with news right now. It does not cost much, but worth your attention.
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