Facebook stock has blown past even the most bullish estimates to a value of $103.4 billion to $110 billion, based on today’s SharesPost auction closing at $44 per share.
The $103.4 billion figure is based on the company still having 2.35 billion outstanding shares; assume that the actual number is 2.5 billion — like some have — then the implied valuation becomes $110 billion.
Both figures surpass the top end of the $75 billion to $100 billion range in value that people have been discussing in reference to Facebook’s forthcoming initial public offer.
This auction has occurred one week after the last one, the shortest time gap between Facebook stock sales that we’re aware of. No wonder the shares surged 10 percent between auctions, the biggest increase between auctions.
And the email about the share auction also went out about a day earlier than is normally the case. We wonder whether the hasty mailing means another auction is coming very soon.
This is technically second auction that has closed after Facebook filed for an initial public offer, although the previous one finished at end of the same day that the social network registered with the Securities Exchange Commission.
It’s still news to us that a company could sell shares privately after registering for an IPO, but the SEC may have something to say about this if it’s not cool.
That said, here’s a copy of the email that SharesPost sent out about the latest auction. What do you think about all of this, readers?
We are writing SharesPost members like you who indicated they would like to occasionally receive news from SharesPost.
SharesPost Financial Corporation completed its auction of 150,000 shares of the Class B Common Stock of Facebook, Inc. on February 8, 2012. A clearing price of $44.00 per share was established at the auction.
Members submitting qualifying bids at or above the clearing price will be contacted shortly with instructions on next steps for completing this transaction. Successful auction bidders will hold an indirect interest in the shares of Facebook, Inc. through their ownership of units of an investment vehicle designated to hold the shares. The administrator of the investment vehicle, SP Investments Management, LLC, is a wholly-owned subsidiary of SharesPost, Inc.
SharesPost members who wish to be informed of and be eligible to participate in future auctions of private company securities must first be qualified by our affiliated broker-dealer as an accredited investor under the U.S. securities laws and regulations by SharesPost Financial Corporation, Member FINRA and SIPC. To get qualified, please click on the green button below. We look forward to serving you at SharesPost in the future.