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 1 billion 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 a reinvented stock market. We provide products and services that enable companies, community banks, student loan issuers and funds to manage liquidity, raise capital and communicate with key stakeholders. A Better Market… We’re empowering entrepreneurs by reinventing the modern stock market and redefining the modern company. We’re enabling companies to manage liquidity, communicate with key stakeholders and raise capital through products that give control to companies, not to Wall Street. We’re changing the market,...
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