Ok, I flat out love these auctions that SecondMarket are holding for privately held Facebook shares. Last week the first one closed, and $40 million of stock changed hands at $20.76 per share, valuing the company at roughly $50 billion.
This week’s auction has now closed. Only 475,000 shares moved, compared to 1.9 million last week. The auction closing price edged up 1.2% to $21.01, about $10 million worth of stock total.
Stay tuned for next week’s auction. What do you think the closing price will be? Closest guess gets a TechCrunch tshirt.
Here’s the email to SecondMarket participants:
Thank you to those who participated in this week’s Facebook auction. The auction was again successful and fully cleared at a per share price of $21.01. Next week, the reserve price will be $21.50, and we will continue to require a minimum sale and minimum purchase of 25,000 shares.
If you own shares that you are eligible to sell and wish to participate as a seller, please complete the attached Seller Information Sheet and submit it to SecondMarket at fb@secondmarket.com by Monday, December 6 at 11:59 PM EST.
If you would like to participate as a buyer, please complete the attached Buyer Information Sheet and submit it to SecondMarket at fb@secondmarket.com by Wednesday, December 8 at 12:00 PM EST.
Please see below for detailed results on previous auctions and for this week’s auction calendar:
Previous Auction Results:
Total Shares Cleared to Date: 2,371,265
November 22, 2010:
Total Number of Shares Offered for Sale: 1,896,265
Number of Shares Cleared in Auction: 1,896,265
Reserve Price: $20.60
Clearing Price: $20.76
November 29, 2010:
Total Number of Shares Offered for Sale: 475,000
Number of Shares Cleared in Auction: 475,000
Reserve Price: $20.60
Clearing Price: $21.01
Next Week’s Auction Timeline:
· Monday, December 6 at 10:00 AM EST – Auction process commences
· Monday, December 6 at 11:59 PM EST – Seller order forms due
· Tuesday, December 7 at 9:00 AM EST – Buyers informed of share quantity available
· Wednesday, December 8 at 12:00 PM EST – Buyer order forms due
· Wednesday, December 8 at 5:00 PM EST – Participants informed of auction results
· Wednesday, December 8 at 8:00 PM EST – Transaction documentation distributed to buyers and sellers
· Friday, December 10 at 4:00 PM EST – Completed transaction documentation due from buyers and sellers
· Friday, December 10 at 7:00 PM EST – Notice to be sent to Facebook, Inc.
Please contact fb@secondmarket.com or 212-668-5183 if you have any questions.
Facebook is the world’s largest social network, with over 845 million monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...
SecondMarket is the leading marketplace for alternative investments. It has become the online destination for building your investor network, discovering interesting investment opportunities, and transacting in assets such as private venture-backed companies and private community banks, fixed income products, public equity and bankruptcy claims. SecondMarket simplifies secondary market activity by connecting buyers and sellers and providing world-class market and operations expertise. Since 2004, SecondMarket has brought together more than 100,000 individuals and institutions and completed billions of dollars in...
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