Facebook Secondary Offering Priced At $55.05/Share

WallStreetNYSE650The 70 million Facebook shares that are part of the underwritten registered public offering the company announced earlier this week now have a price tag: $55.05 per share.

Facebook announced the pricing for the shares after the close of trading Friday, with 27,004,761 of them coming from the company itself and another 42,995,239 from certain stockholders, including 41,350,000 from Co-Founder and CEO Mark Zuckerberg.

The company said it expects the offering to close Dec. 26, subject to customary closing conditions.

The company said in announcing the offering earlier this week that the proceeds from the sale of its 27,004,761 shares will go toward working capital and other general corporate purposes, adding that the majority of the proceeds received by Zuckerberg will be used to satisfy tax obligations that he will incur after exercising in full an outstanding stock option to purchase 60 million shares of class-B common stock in the company.

Readers: What do you think of the $55.05-per-share price?

Images courtesy of Shutterstock.

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