We advised Meta on its historic equity and equity-linked offerings

Davis Polk advised Meta Platforms, Inc. in connection with its SEC-registered underwritten public offerings of 250,000,000 Series A depositary shares, each representing a 1/20th interest in a share of newly issued 6.50% Series A mandatory convertible preferred stock, with an aggregate offering price of $12.5 billion; and $25 billion of shares of its Class A common stock. In connection with the offering of Class A common stock, Davis Polk also advised Meta on its entry into forward sale agreements with respect to an aggregate of 40,000,000 shares of its Class A common stock. Pursuant to these forward sale agreements, the forward purchasers or their respective affiliates borrowed from third parties and sold to the underwriters an aggregate of 40,000,000 shares of the Class A common stock.

Meta is building the future of human connection, powered by artificial intelligence and immersive technologies. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving toward building experiences that foster deeper connections and unlock new possibilities.

The Davis Polk capital markets team included partners Michael Kaplan and Hillary A. Coleman and associates Kanger Jin and Megan P. Phansalkar. The equity derivatives team included partners Mark M. Mendez and Mark J. DiFiore, counsel Hanbing Zhang and associate Alexander S. Pettingell. The tax team included partners Lucy W. Farr and Corey M. Goodman. All members of the Davis Polk team are based in the New York office.

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