Meta aims to raise $35B via stock offering

 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.

https://breakingthenews.net/Article/Meta-aims-to-raise-dollar35B-via-stock-offering/67398122