Meta turns positive in pre-market trading, up 1.12%; Nvidia, AMD, and Broadcom intend to purchase up to $5 billion of Meta shares.

BlockBeats news, October 26 - Meta Platforms (META.O) plans to raise approximately $35 billion through two concurrent underwritten public offerings, including approximately $22.5 billion of Class A common stock and approximately $12.5 billion of Series A mandatory convertible preferred stock.

According to reports, Meta's common stock offering will be conducted through forward sale agreements, while the preferred stock offering involves depositary shares representing Series A mandatory convertible preferred stock. Information shows that Meta intends to issue up to 250 million Series A depositary shares.

Additionally, Nvidia, AMD, and Broadcom are all interested in purchasing up to $5 billion of Meta stock. Meta's stock turned positive in pre-market trading, rising 1.12%.