Last time we checked in with SecondMarket in late January, Facebook shares had declined from the auction’s high point at $28.26 a share (a $70 billion + valuation) to $26.25 a share which means a $65.5 billion valuation going by its 2.5 billion shares outstanding. While at the time we had speculated about a peak and signs of a decline, shares are up 2.85% this week in SecondMarket’s 10th Facebook auction, at $27.00 a share and a $67.5 billion valuation.
What’s changed (again)? Continued market exuberance as Facebook platform developer Zynga’s valuation slowly rises and reports of a Kleiner Perkins investment at $52 billion.
Guess we’ll have to get the interns to update our infographic.
Full SecondMarket mail below.
Subject: Privileged and Confidential – Participate in SecondMarket’s 10th Facebook Auction
To Facebook market participants:
Last week’s SecondMarket auction cleared at a per share price of $27.00. Attached is the detailed auction results report.
Like last week, the minimum sale and minimum purchase will be 10,000 shares. If you are bidding for fewer than 100,000 shares, you are required to open a brokerage account with SecondMarket. Please email XXXX@SecondMarket.com to receive a Brokerage Account Opening Form and return the completed form by Tuesday, February 22, 2011 at 5:00 PM EST.
Please email your completed Seller or Buyer Information Forms to fb@SecondMarket.com by Wednesday, February 23 at noon EST. To verify receipt of your order, you must receive a confirmation email from fb@SecondMarket.com. If you do not receive a confirmation email, your sell order has not been received by SecondMarket and may be excluded from the auction.
Next Week’s Auction Timeline:
• Friday, February 18 – SecondMarket will begin accepting Seller Information Forms, Buyer Information Forms and Brokerage Account Opening Forms
• Tuesday, February 22 at 5:00 PM EST – Brokerage Account Opening Form due, if bidding for fewer than 100,000 shares
• Wednesday, February 23 at 12:00 PM EST – Seller and Buyer Information Forms due
• Wednesday, February 23 at 5:00 PM EST – Participants informed of auction results
• Wednesday, February 23 at 8:00 PM EST – Transaction documentation distributed to buyers and sellers
• Thursday, February 24 at 5:00 PM EST – Wire of 100% of gross purchase price to escrow account due, if allocated fewer than 100,000 shares
• Friday, February 25 at 4:00 PM EST – Completed transaction documentation due from buyers and sellers
• Friday, February 25 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 XXXXXXXX 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,
Terrence