Meta prices upsized $37.5B stock and depositary share offering

• Meta Platforms (META) has priced a combined offering of $25 billion in Class A common stock and $12.5 billion in depositary shares tied to mandatory convertible preferred stock, upsizing the common stock portion from its previously announced $22.5 billion.
• Meta has granted underwriters a 30-day option to purchase up to an additional 37.5 million depositary shares at the offering price, minus underwriting discounts, to cover any over-allotments.
• The net proceeds from the Depositary Shares Offering will be approximately $12.5 billion after deducting the applicable underwriting discount and estimated offering expenses payable by Meta.
• Meta intends to use the net proceeds from the Depositary Shares Offering for general corporate purposes.

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