Facebook sets IPO at $28 to $35 a share
This final note on the way out. The last words you’ll hear from me on the Facebook IPO until it actually happens in a couple of weeks. The company amended its filings with the Securities and Exchange Commission today. Mostly run of the mill stuff. They adjusted their price range, they’re figuring $28 to $35 a share. Looking to raise $10 billion or so.
Here’s the best part, though. Founder Mark Zuckerberg’s going to sell 30 million of his own personal shares as part of the IPO. Cash on the barrelhead — that’s a billion dollars in his pocket right away. And even after that, he’s still going to control 57 percent of the voting stock.
Nice work if you can get it.
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