According to people familiar with the matter, Meta Platforms Inc.'s expanded $25 billion share offering received subscription demand about five times the amount of shares available for issuance. The company is seeking to raise $98 billion to fund its AI related expenses. People familiar with the matter said that in this common stock offering, more than half of the shares were placed to investors who only wanted to go long and existing investors. According to people familiar with the matter, investors who received the 15 largest placements in this offering were allotted 70% of the shares in total. The offering price is set at $625 per share, a 2.7% discount from the closing price last Friday before the release schedule was announced. The stock offering is only part of Meta's financing plan, which also includes the issuance of $12.5 billion of mandatory convertible preferred shares and a plan to issue shares at market price that is expected to be implemented. The total financing plan reached 98 billion US dollars, making it one of the largest equity financing plans in history. According to people familiar with the matter, the compulsory issuance of convertible preferred shares was also oversubscribed several times.

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