Meta Platforms closes 250 million depositary share offering, plus common forward sale
Meta Platforms closed an offering of 250,000,000 Series A depositary shares on October 29, 2026, each representing a 1/20th interest in a 6.50% Series A Mandatory Convertible Preferred Stock. The company also entered forward sale agreements covering 40,000,000 Class A common shares, under which it will receive no initial proceeds and will issue shares later at an adjustable forward price. The preferred terms bar common dividends and buybacks while preferred shares remain outstanding, subject to exceptions, which may limit capital returns to common shareholders.
Key points
- 250,000,000 Series A depositary shares offered; underwriters have an option for up to 37,500,000 more, exercisable within 30 days
- Offering closed October 29, 2026; certificates of designations filed with Delaware October 28, 2026
- Forward sale agreements cover 40,000,000 Class A common shares, with initial forward sale price of $622.91875 per share and settlement by November 19, 2027
- While preferred shares are outstanding, no common dividends or distributions may be paid, subject to certain exceptions
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.