Facebook shares have surged to their highest closing price ever on SharesPost, to $40 apiece, after the social network already filed its registration to go public.
If we assume that the company still has 2.35 billion outstanding shares, as was the case for the last couple of auctions, that makes the company worth $94 billion.
If you go with the 2.5 billion outstanding share figure that the company had up until a few auctions ago, that makes Facebook worth $100 billion. That’s the high end of the range in value that analysts had been putting the company at,
Either way, this latest closing price comes in about $6 per share higher than the last auction, a much bigger run-up in price than we’ve previously seen between auctions.
SharesPost auctions take about a week but this one was underway amid rumors that Facebook was going to submit initial public offer registration documents Wednesday afternoon. Once that filing occurred, the bidding must have surged.
Nothing about this transaction broke any U.S. securities laws, but we wouldn’t be surprised if the timing of events motivated lawmakers to resume debate on whether to impose regulations on private trading venues like SharesPost and SecondMarket.
Yet it’s hard not to wonder why the SharesPost website is currently down for maintenance, even though the site says the work is “scheduled.”
That said, a copy of the email that SharesPost sent about the auction follows below:
SharesPost Financial Corporation completed its auction of 100,000 shares of the Class B Common Stock of Facebook, Inc. on February 2, 2012. A clearing price of $40.00 per share was established at the auction.
Members submitting qualifying bids at or above the clearing price will be contacted shortly with instructions on next steps for completing this transaction.
Successful auction bidders will hold an indirect interest in the shares of Facebook, Inc. through their ownership of units of an investment vehicle designated to hold the shares. The administrator of the investment vehicle, SP Investments Management, LLC, is a wholly-owned subsidiary of SharesPost, Inc.
SharesPost members who wish to be informed of and be eligible to participate in future auctions of private company securities must first be qualified by our affiliated broker-dealer as an accredited investor under the U.S. securities laws and regulations by SharesPost Financial Corporation, Member FINRA and SIPC. To get qualified, please click on the green button below. We look forward to serving you at SharesPost in the future.
Facebook, Inc. (“Facebook”) is not affiliated with SharesPost Financial Corporation or any of its affiliates. Facebook has not participated in the offering of interests in connection with the auction.
This email is intended only for the SharesPost member to whom it is addressed and its contents are confidential and propriety. Redistribution of this email is prohibited.
The private placement referenced in this email communication is solely an invitation by SharesPost to view certain materials on the SharesPost website. None of SharesPost Financial Corporation or its affiliates are acting as an investment adviser of any investment vehicle, although one or more of its affiliates may, as manager, administer this investment opportunity.
None of the information displayed is a public offer to buy or sell any securities. SharesPost provides a forum for the interaction of sellers of securities to interact with buyers who have been qualified as accredited investors pursuant to U.S. securities laws and regulations by SharesPost Financial Corporation, Member FINRA and SIPC.
SharesPost does not (i) advise its users on the merits of a particular investment or transaction, (ii) assist in the negotiation, transaction or financial dealings between the parties or with the issuer, (iii) provide legal, tax, financial or transactional advisory services to its users, or (iv) participate or invest in any way or allow its employees to invest in or participate in any way in buy-sell transactions between its members. None of SharesPost Financial Corporation or its affiliates assume any liability whatsoever for any decision by a buyer or seller to invest or divest or undertake any transaction pursuant to information contained on the SharesPost website. All information and materials included in or accessible via this email are qualified by these disclaimers .
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