Meta Platforms, Inc. (META) Form 8-K — Oct 29, 2026
Meta Platforms closed a $12.5 billion offering of 250 million Series A Depositary Shares on October 29, 2026, each representing 1/20th of a share of 6.50% Series A Mandatory Convertible Preferred Stock with a $1,000 liquidation preference, underwritten by Morgan Stanley and Goldman Sachs with a 37.5 million-share greenshoe option. Concurrently, Meta entered into forward sale agreements covering 40 million Class A shares (plus a 6 million-share option) at an initial forward price of $622.91875 per share, receiving no upfront proceeds but retaining flexibility to settle on or before November 19, 2027.
Key figures
- Offering Price
- 50
- Shares Offered
- 250000000
- Shares Outstanding
- 0
- Forward sale shares
- 40000000
- Preferred dividend rate
- 6.50%
- Forward greenshoe shares
- 6000000
- Conversion settlement date
- August 15, 2029
- Initial forward sale price
- 622.91875
- Forward settlement deadline
- November 19, 2027
- Greenshoe depositary shares
- 37500000
- Mandatory conversion rate max
- 1.6
- Mandatory conversion rate min
- 1.362
- Purchase price per depositary share
- 49.8335
- Preferred liquidation preference per share
- 1000
AI analysis
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