Meta Announces Launch of Offering of Depositary Shares Representing Series A Mandatory Convertible Preferred Stock and Offering of Class A Common Stock in Connection with Forward Sale Agreements
Meta announced concurrent underwritten offerings of approximately $35 billion — $22.5 billion of Class A common stock sold via forward sale agreements with Morgan Stanley and Goldman Sachs, plus ~$12.5 billion of Series A mandatory convertible preferred depositary shares (250 million shares, listing as METAM). The raise is part of a broader financing plan that includes a planned ~$60 billion ATM program in Class C stock expected to commence in Q1 2027, with proceeds earmarked for general corporate purposes including AI infrastructure investment. Meta expects $135-145 billion of 2026 capex.
Key figures
- Guidance
- 2026 capital expenditures of $135-$145 billion
- Deal Value Usd
- 35000000000
- Shares Offered
- 250000000
- Q3 2026 revenue
- 64600000000
- Q3 2026 net income
- 9900000000
- Q3 2026 revenue yoy
- 26%
- Cash and investments
- 82000000000
- Over allotment option
- 30-day option for up to additional 37.5M depositary shares and $3.375B of Class A common
- Cornerstone commitment usd
- 5000000000
- Daily family of apps users
- 3640000000
- Operating cash flow 9m 2026
- 97000000000
AI analysis
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