Financing ·
Issues $25B of 6.5% Series A Mandatory Convertible Preferred Stock and sells 40M shares via forward agreements
METAMeta Platforms, Inc.
Meta Platforms issued 250 million depositary shares, each representing a 1/20th interest in Series A Mandatory Convertible Preferred Stock with a $1,000 liquidation preference and a 6.50% annual dividend rate. The offering closed on October 29, 2026, with mandatory conversion into Class A common stock scheduled for August 2029 based on average volume-weighted average price. Concurrently, the company entered forward sale agreements to sell 40 million shares of Class A common stock through Morgan Stanley and Goldman Sachs at an initial price of $622.91875 per share, with settlement occurring on or before November 19, 2027. The firm operates in the technology sector, providing social media platforms and digital advertising services.