Reuters: Technology News: Facebook says no secondary offering to cover tax bill

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Facebook says no secondary offering to cover tax bill Sep 4th 2012, 21:46 Tweet Share this Email Print Related News Facebook hits new low after price target cuts Fri, Aug 31 2012 Wall Street slips after S&P 500 hits four-year high Tue, Aug 21 2012 Facebook director Thiel sold 20 million shares after lockup Mon, Aug 20 2012 Facebook shares drop 4 percent, hit another low Fri, Aug 17 2012 Facebook plumbs new lows as sales curbs start to expire Thu, Aug 16 2012 Analysis & Opinion The Facebook investors' lament Essential reading: Attack targets Romney's role in Marriott tax deals, and more The Facebook logo is seen on a screen inside at the Nasdaq Marketsite in New York May 18, 2012. Credit: Reuters/Shannon Stapleton By Alexei Oreskovic SAN FRANCISCO | Tue Sep 4, 2012 5:12pm EDT SAN FRANCISCO (Reuters) - Facebook Inc will not conduct a secondary share offering to cover a nearly $2 billion tax bill for its employees' stock compensation and has moved up the date on which employees can sell shares, the company said in a regulatory filing on Tuesday. The Internet social networking company, which has lost more than 50 percent of its market value since its May initial public offering, said its total shares outstanding will be reduced by roughly 101 million shares as a result of the move. Shares of Facebook gained 1.8 percent in after hours trading on Tuesday to $18.05. Facebook Chief Executive Mark Zuckerberg will not sell any shares in the company for at least 12 months, the company also said on Tuesday, while directors Marc Andreessen and Donald Graham will sell some shares to cover their tax obligations. (Reporting By Alexei Oreskovic; Editing by Tim Dobbyn) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions