Facebook expands IPO with additional 83.8M shares from existing stockholders
Facebook will make an additional 83.8 million shares available in an initial public offering on Friday, according to an eighth amendment to its S-1 filing with the Securities and Exchange Commission.
Most of these shares are being sold by existing stockholders Accel Partners, Digital Sky Technologies, Goldman Sachs, Greylock Partners, Mail.ru Group Limited, Tiger Global Management and venture capitalist James Breyer. These entities and individuals likely decided to sell more shares after Facebook increased its price range for the IPO from between $28 and $35 to between $34 and $38.
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