Facebook Gets ‘FB’ Ticker Approval

Facebook Gets ‘FB’ Ticker Approval
News
Like Us On Facebook
Like Us On Facebook

Facebook, which is preparing for the biggest-ever techIPO, has received approval for its “FB” Nasdaq ticker symbol, according to a regulatory filing. Facebook outlined its plan to trade on the Nasdaq in an amended S-1 filing last month, ending speculation about the company’s likely home.

The Menlo Park, Calif.-based firm is expected to price its IPO on Thursday, and begin trading on Friday.

Facebook could raise as much as $13.6 billion, representing the maximum proposed size of the offering, which would reflect the sale of 388 million shares at $35 each.

Excluding an over-allotment of 50.6 million shares, however, and assuming an IPO price of $31.50 a share, the midpoint of its range, Facebook would raise $10.6 billion. The company estimates that the new proceeds from its offering will be about $5.6 billion, assuming a midpoint price range.

The Street

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In News

World Adam Matula

Baby Elephant Has Some Serious Ribbon Dancing Skills (Video)

Elephants are apparently masters of ribbon dancing and rhythm gymnastics. Recent footage captured by tourists shows Faa Mai, a baby elephant who was rescued and currently lives at the Elephant Nature Park in Thailand, showing off in front of friends with a large blue ribbon. The intriguing baby elephant does tricks with the ribbon, spinning […]

World Adam Matula

Drunk Guy Somehow Manages To Get Stuck Under An ATM Door (Photos)

When an ATM swallowed his card, a drunken Cheng Kao got scared he might get locked inside the glass booth. He tried to escape by squeezing underneath the glass wall. Instead, he ended up stuck for an entire night. Concerned citizens of Zhejiang, an eastern province in China, called to report the stuck, unconscious man. […]

World Adam Matula

Once A Cheater Always A Cheater: Science Says Cheating Is Repetative

If your current partner cheated on their ex to be with you, it’s very possible you’re relationship is in serious trouble. Research suggests lovers who are “poached” away from others are more likely to cheat in their new relationships. Scientists at the University of Southern Alabama researched levels of commitment and satisfaction among 443 men […]

Also On Elite

Entertainment

A Pizza Place In Brooklyn Created A Robin Williams-Themed Menu In His Honor

Vinnie’s Pizzeria in Brooklyn came up with a unique way to honor the late Robin Williams. The pizza joint chose to name a couple of pizzas after Williams’ most famous roles and movies. The choices include the “Pork and Mindy,” the “Mrs. Krautfire,” the “Dead Poets Soy-Piety,” the “Good Will Hotwing” and the “Chocolate Chip Hookie,” […]

Life

Debunking The Misery Myth: 10 Reasons NYC Is The Happiest City In The US

There’s been a lot of media chatter lately about NYC residents and their misery. NYC is the most miserable city in the US actually, according to data gathered from the Centers for Disease Control and Prevention. What most have failed to mention is that much of the data was collected through surveys known as the […]