# Meta closes offering of 250,000,000 depositary shares

_Published Thursday, October 29, 2026 at 6:18 PM EDT · Products · Latest · Tier 1 — Major_

Meta Platforms closed an offering of 250,000,000 depositary shares on October 29, according to its SEC filing. Each share represents a 1/20th interest in preferred stock carrying a 6.50% annual dividend rate and mandatory conversion into common stock.

The filing also details forward sale agreements initially covering 40,000,000 common shares, with an initial forward price of $622.91875 per share. Meta receives no proceeds initially from those borrowed-share sales; settlement is due on or before November 19, 2027. The preferred stock automatically converts for settlement on or about August 15, 2029, unless converted earlier.

## Sources

- [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1326801/000119312526438017/d183592d8k.htm)

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Canonical: https://techandbusiness.org/newswire/Qz8bu2Cx5wkZVXWbLHkfDU
Published: 2026-10-29T22:18:40.958Z
Story chronology: 2026-10-29T12:00:00.000Z
Retrieved: 2026-10-30T00:32:07.165Z
Publisher: Tech & Business (techandbusiness.org)