Changes in US stocks | Proposed share issuance to raise US$35 billion Meta (META.US) once fell more than 2%

The Zhitong Finance App learned that on Monday, Meta (META.US) fell at the beginning of the session. At one point, it fell more than 2% in the intraday period. As of press time, the decline had narrowed to 1.7%. According to the news, Meta Platforms announced that it has launched a public offering plan totaling about 35 billion US dollars, including common shares and convertible preferred shares, to raise funds for the company's large-scale artificial intelligence strategy expansion.

Specifically, Meta's two underwritten public offerings include the issuance of approximately US$22.5 billion of Class A common shares through forward sales agreements, and the issuance of approximately US$12.5 billion of Series A compulsory convertible preferred stock depository shares. Morgan Stanley and Goldman Sachs acted as co-lead underwriters for this offering. Meta said the net raised capital from the two offerings will be used for general corporate purposes, including artificial intelligence infrastructure construction.

Nvidia, AMD, and Broadcom intend to collectively subscribe up to $5 billion of Class A common stock. Additionally, Meta plans to launch a market-as-you-go (ATM) program of approximately $60 billion after Class C common stock trading begins (as early as the first quarter of 2027). The preferred shares will automatically be converted to Class A or Class C common shares around August 15, 2029.