Another 70 million Facebook shares will hit the market, as the social network announced an underwritten registered public offering of class-A common stock, with 27,004,761 coming from the company itself and another 42,995,239 from certain stockholders, including 41,350,000 from Co-Founder and CEO Mark Zuckerberg.
Facebook Thursday unveiled the closest thing to a Facebook phone, with Home. Select Android devices will have access to Home starting April 12, and it will later become available to more users. This news was met with curiosity, excitement, and a little bit of fear, knowing that Facebook would go from being a part of the phone to being a part of the entire mobile experience.
It has been a rocky road for Facebook after its initial public offering. The reports of several Facebook underwriters were released today, as analysts feel that the company will be fine long-term, but there are still some lingering doubts about turning mobile usage into money.
A total of 38.5 percent of the 421,233,615 Facebook shares purchased by underwriters prior to its initial public offering went to Morgan Stanley, while E*Trade, which had been touted as the best source of stock in the social network for individual investors, received only 0.05 percent of the shares, according to an amendment to Facebook’s S-1 filing with the Securities and Exchange Commission, filed after the close of trading Friday.
Deutsche Bank, Credit Suisse, and Citigroup will likely join the group of banks underwriting Facebook’s upcoming initial public offering.