NEW YORK (
) -- As
(FB - Get Report)
IPO draws ever closer, the social networker has again raised the size of its offering to meet burgeoning investor demand. Or it could be insiders cashing out, knowing there's not much upside left.
Facebook filed an
eighth version of its S-1
on Wednesday, increasing the number of Class A common stock from just over 337 million shares to 421.2 million shares. The Menlo Park, Calif.-based firm, which is expected to debut on Friday, added 83,818,263 shares in total.
Facebook is still selling the same 180 million shares in the offering, but selling stockholders are selling 241 million shares, up from 157.4 million, something that investors need to pay attention to. This, however, could be nothing more than increased demand for Facebook's IPO, despite
slowing revenue growth and rising costs.
(GS - Get Report)
has more than doubled the amount it is selling in the offering, according to the filing. It raised its stake from 13.189 million to 28.672 million shares. Venture capital firm
also raised the amount of shares it's selling, now at 49 million versus 38.19 million previously.
Russian venture capital firm
, led by Yuri Milner, nearly doubled the amount of shares it's selling. DST now plans to offer 45.66 million shares, up from 26.25 million.
Peter Thiel, co-founder of
sharply raised the amount of stock he's selling in the offering. Thiel, who was one of the earliest investors in Facebook, is selling 16.8 million shares, up from 7.7 million.
and venture capital firm
also upped the stakes they are selling.
Facebook raised the
offering price of its IPO yesterday
, increasing its projected range to between $34 and $38 a share, up from $28 to $35 a share. The company will trade on the
under the ticker symbol "FB."
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Written by Chris Ciaccia in New York