Meta Upsizes Stock Offering to $25 Billion, Prices $12.5 Billion in Preferred Shares

Meta Platforms upsized its Class A common stock offering to $25 billion and priced $12.5 billion of mandatory convertible preferred stock carrying a 6.50% annual dividend. The common stock was priced at $625 per share across 40 million shares under forward sale agreements. The pricing is part of an overarching $95 billion equity financing plan alongside an upcoming $60 billion at-the-market program. The capital drive follows Meta's third-quarter results, an announced 1-for-1 Class C non-voting stock split dividend effective January 2027, and full-year capital expenditure guidance raised to $135 billion-$145 billion.