Meta's expanded $25bn common-stock offering drew roughly five times demand for
available shares. The company is targeting up to $98bn to fund AI spending. More
than half of the allocation went to long-term investors and existing
shareholders; the top 15 subscribers received about 70% of the offering. The
deal priced at $625 per share, a 2.7% discount to the close the Friday before
the announcement. Meta shares fell as much as 1.4% to $621.47 in New York on
Tuesday. The equity sale is part of a broader financing package that includes
$12.5bn of mandatory convertible preferred and expected at‑market share
placements; if the full $98bn is raised it would be among the largest equity
financings on record.
