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May 4, 2012 12:16 am GMT
Facebook's early investors and employees may sell up to $5.5 billion alongside the company's offering. Facebook said today that it is selling 180 million shares of stock at $28 to 35 a share. On top of that, other stockholders are selling 157,415,352 shares. Those proceeds will not go to Facebook.Chief executive Mark Zuckerberg is selling 30.2 million shares, or up to $1.05 billion, which will mostly go toward settling the multi-billion dollar tax bill he'll face when he exercises his options.Zuck's not the only one selling shares though.So are Accel's Jim Breyer*, Peter Thiel, LinkedIn founder Reid Hoffman and Zynga CEO Mark Pincus. Then there are the institutional entities like Accel* and DST. In fact, it's Breyer and his firm Accel that are walking away with the biggest immediate payday from the IPO. Who's not selling in this offering? Sean Parker, Facebook COO Sheryl Sandberg and Facebook co-founder Dustin Moskovitz.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GWqLm6JaBNw/
Facebooks Early Shareholders Will Sell Up To $5.5 Billion With IPO. Heres Whos Selling What:
Facebook's early investors and employees may sell up to $5.5 billion alongside the company's offering. Facebook said today that it is selling 180 million shares of stock at $28 to 35 a share. On top of that, other stockholders are selling 157,415,352 shares. Those proceeds will not go to Facebook.Chief executive Mark Zuckerberg is selling 30.2 million shares, or up to $1.05 billion, which will mostly go toward settling the multi-billion dollar tax bill he'll face when he exercises his options.Zuck's not the only one selling shares though.So are Accel's Jim Breyer*, Peter Thiel, LinkedIn founder Reid Hoffman and Zynga CEO Mark Pincus. Then there are the institutional entities like Accel* and DST. In fact, it's Breyer and his firm Accel that are walking away with the biggest immediate payday from the IPO. Who's not selling in this offering? Sean Parker, Facebook COO Sheryl Sandberg and Facebook co-founder Dustin Moskovitz.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GWqLm6JaBNw/
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