Facebook Revises S-1 Again: Adds Another 83,818,263 Shares Of Class A Stock, Could Raise $16B

Facebook is revising hard and fast in the lead-up to Friday when it is expected to ring in the Nasdaq bell and go public. In short, every revision is continuing to gradually push up the value of the company. Today’s S-1 filing has increased Facebook’s share offering to 421,233,615 shares of Class A common stock – 83,818,263 shares more than yesterday’s S-1, which had 337,415,352 shares of Class A common stock.
With the additional shares, the company could now potentially raise up to $16 billion when it goes public, according to Reuters. Facebook is holding on the $34-38 price range. It will be trading on the Nasdaq as FB.
The move to increase the size of the offering could be read in two ways: it’s a way of meeting investor demand, which reports have noted continues to be high.
But it could also be a way of inspiring more confidence and interest in the company to stave off some of the more negative reports we’ve had in the last couple of days: most recently, it was noted that General Motors was pulling its advertising from Facebook. That’s a $10 million deal — not massive in terms of value — but very embarrassing for the social network because of the reason: apparently it was too hard for the car company to quantify the return on the investment.
More to come. Refresh for updates.

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