Meta’s expanded $25 billion stock offering drew demand about five times the shares available, according to people familiar with the matter cited by BlockBeats. The company plans to raise $98 billion to fund artificial-intelligence spending.
Offering details
More than half of the common-stock offering was allocated to long-term investors and existing shareholders, while the top 15 investors accounted for about 70% of the offering. The issue price was $625 a share.
Meta shares rose 1.4% in New York to $621.47. The offering is one part of a broader $98 billion financing plan that includes $12.5 billion of mandatory convertible preferred stock and a possible secondary stock plan. The figures were attributed to people familiar with the matter; the flash did not provide an official filing or final allocation notice.