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 email@example.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 firstname.lastname@example.org 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 email@example.com or 212-668-5183 if you have any questions.