Now, Zuck selling Facebook shares is the headline everyone is talking about, but that's really just the side story here. In my view, the real story is that Zuck's sale is part of a new public offering by Facebook of some 70 million Class A shares. Of that total, Zuck is contributing 41.35 million shares (the proceeds of which go to the IRS or whatever), while Facebook (the company) is offering 27 million shares, which is dilutive to existing shareholders.
The company says it plans on using the money (roughly $1.5 billion) from its portion of the share sale "for working capital and other general corporate purposes."
Excuse me?
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