The SecondMarket Facebook shares auctions are back on after a holiday break, and the valuation is up big time. The last auction prior to this one closed December 15 at $22.75/share. Today it hit $28.26 per share. With 2. 5 billion or so shares outstanding, that’s a $70.65 billionish valuation. A month and a half ago shares were trading on SecondMarket at a $50 billion valuation.
What’s changed? The Goldman Sachs investment announced earlier this month increased the hype even further. No wonder the SEC is starting to pay attention to these trades.
Sounds like Accel Partners may have sold a little before the peak.
The email from SecondMarket is below:
Subject: Privileged and Confidential – SecondMarket’s Facebook Auction Update
To Facebook market participants:
Thank you to those who participated in this week’s SecondMarket auction for Facebook shares. The auction was successful and fully cleared at a per share price of $28.26. Next week, the floor price will be $26.25 and we will require a minimum sale of 25,000 shares. In observance of the national MLK, Jr. holiday, please find the adjusted auction timeline for next week below.
If you own shares that you are eligible to sell and wish to participate as a seller, please complete the attached Seller Information Form and submit it to SecondMarket at fb@secondmarket.com by Thursday, January 20 at 7:00 PM EST.
Please see below for detailed results on previous auctions and for next week’s adjusted auction calendar:
Previous Auction Results:
Total Shares Cleared to Date: 2,721,265 over five auctions
Clearing Price in Most Recent Auctions:
January 12, 2011: $28.26
December 15, 2010: $22.75
December 8, 2010: $21.90
December 1, 2010: $21.01Next Week’s Adjusted Auction Timeline:
• Thursday, January 20 at 7:00 PM EST – Seller Information Forms due
• Thursday, January 20 at 8:00 PM EST – Buyers informed of share quantity available and minimum purchase amount
• Monday, January 24 at 12:00 PM EST – Buyer Information Forms due
• Monday, January 24 at 5:00 PM EST – Participants informed of auction results
• Monday, January 24 at 8:00 PM EST – Transaction documentation distributed to buyers and sellers
• Wednesday, January 26 at 4:00 PM EST – Completed transaction documentation due from buyers and sellers
• Wednesday, January 26 at 7:00 PM EST – Notice sent to Facebook, Inc.
By reading this email, the recipient acknowledges and agrees that all of the information contained herein is confidential and that the recipient will keep this information confidential. The recipient further agrees that it will not copy, reproduce, or distribute this email in whole or in part.
Please contact us at fb@secondmarket.com or 212.668.3919 if you have any questions.
Please note that the information in this email does not constitute an offer to sell to, nor a solicitation of an offer to buy from, nor shall any securities be offered or sold to, any person in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
Regards,
Boyd