Digital Sky Technologies Makes Tender Offer for Facebook Shares

FacebookLogo.jpgCurrent and former Facebook employees thinking of selling their stock are pondering a tender offer from Russian investment firm Digital Sky Technologies, which invested $200 million into the social-networking platform this past spring, according to TechCrunch and CNET News’ The Social.

DST placed a tender offer to purchase up to $100 million of common stock in Facebook, at $14.77 per share, and interested employees and former employees must accept the terms within 20 business days from Monday, July 13. The $14.77-per-share price values the company at $6.5 billion.

According to TechCrunch, if the offer is fully accepted, DST will acquire an additional 1.54% of the fully diluted stock of Facebook, giving it approximately 3.5% of the company in total.

“While individuals must make their own decisions about participating in this program, I’m pleased that the price DST is offering is much greater than the price originally considered last fall,” Facebook founder and CEO Mark Zuckerberg said in a statement. “This is recognition of Facebook’s growth and progress towards making the world more open and connected.”