According to an amended registration document, Facebook (FB) will now offer over 421 million shares to investors. That is around 83.8 million shares more than originally offered, which would work out to another $3.19 billion in proceeds if Facebook prices at the top of its $35-$38 per share offering range.
The entire offering now would raise over $16 billion at the $38 per share price, which would make it the largest-ever technology IPO. The current leader is AT&T Wireless, which raised over $10 billion in 2010. It also would become the third-largest IPO ever on a U.S. exchange, following Visa's (V) $19.65 billion offering in March 2008 and General Motors (GM) raising $18.145 billion in November 2010.
Given the fact GM pulled its advertising from facebook as it felt it was not worth the cost, Big Brand GM withdraws 10mil in ad dollars [webmasterworld.com], and I am sure other companies fell the same way, is this really a practical move for facebook?
Why would they not wish to "zucker" in as many of the the gullible ( and those who'll get paid a commission on "buying in with other people's money" such as pension fund managers etc ) as possible before the world wakes up to the intrinsic worthlessness of the product..