Meta Prices $25B Common Stock and $12.5B Mandatory Convertible Preferred Offerings
META sits 21% above its 52-week low of $520.26.
Summary
Meta priced 40 million Class A shares at $625.00 (~$24.9B net, upsized to $25.0B) and 250 million 6.50% mandatory convertible depositary shares at $50.00 (~$12.5B net), both settling October 29, 2026, with common proceeds arriving via forward sale agreements.
Key Events · Financing and Capital Events · META
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Common Offering Priced at $625.00
40,000,000 Class A shares priced at $625.00 per share, upsized to a $25.0 billion offering, compared with a Nasdaq last reported sale price of $630.56 on October 26, 2026.
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Mandatory Convertible Priced at $50.00
250,000,000 Series A depositary shares at $50.00 each, representing 1/20th of a share of 6.50% Series A Mandatory Convertible Preferred with a $1,000 liquidation preference; conversion between 1.3620 and 1.6000 Class A shares per preferred share.
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Net Proceeds Roughly $37.4 Billion
About $24.9 billion net from the common offering (up to ~$28.7 billion with the 6,000,000-share option) and about $12.5 billion net from the preferred (up to ~$14.3 billion with over-allotment), both for general corporate purposes.
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Cash Deferred Via Forward Sales
The 40,000,000 common shares are sold under forward sale agreements with Morgan Stanley Capital Services LLC and Goldman Sachs & Co. LLC at an initial forward price of $622.91875; Meta expects settlement on or prior to November 19, 2027.
Analysis · META · Technology
Meta has locked in terms on the capital raise it launched a day earlier, and the mix leans more heavily on straight equity than originally indicated: the common tranche was upsized to $25.0 billion from the ~$35 billion combined launch. Specifically, 40 million Class A shares priced at $625.00 — a modest 0.9% discount to the $630.56 last sale on October 26 — for roughly $24.9 billion net, alongside 250 million depositary shares at $50.00 for about $12.5 billion net of a 6.50% mandatory convertible. The shares are sold through forward sale agreements with Morgan Stanley and Goldman Sachs, so Meta does not receive cash until settlement (expected on or prior to November 19, 2027); the dilution hits the share count now while the balance sheet gets the cash later. Proceeds are earmarked for general corporate purposes, funding the AI buildout alongside the previously disclosed ~$60 billion ATM. Existing holders absorb roughly 40 million new shares against a company that just posted a $9.89 billion legal charge and a 37% drop in operating income.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 45.6% of the 241 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.73%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, META was trading at $628.86 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6T. The 52-week trading range was $520.26 to $779.82. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.