News about share offerings

Meta Platforms plans to raise up to $95 billion through equity offerings, its largest ever, to fund its AI infrastructure buildout, and the stock fell about 2% during the day. The plan includes public offerings of about $35 billion in common and preferred stock, plus a separate share sale program of up to $60 billion that will start after its non-voting Class C shares begin trading, expected in the first quarter of 2027. Nvidia, AMD and Broadcom have also shown interest in buying up to $5 billion of Class A shares in total. Meta has committed about $825 billion in future spending, mostly on data centers and AI, while its third-quarter free cash flow was negative $2.12 billion, the first negative quarter in over a decade, even as revenue reached $64.6 billion, up 26%. William Blair said investors will keep questioning the financing and possible future raises, but views the raise as a sign of Meta's confidence in long-term AI returns, though the path may not be linear.

Nasdaq-listed Tron has filed for an at-the-market share offering allowing it to sell up to $200 million of common stock through Clear Street, to fund a larger Tron (TRX) treasury. According to a Wednesday SEC filing, Clear Street keeps a commission of up to 3% of gross proceeds. The treasury holds 718.9 million TRX worth about $237 million, after buying 149,369 TRX at an average price of $0.3347 on Thursday under a program announced in February to purchase about $50,000 of TRX per day for 360 consecutive days. Shares opened 4.7% lower on Thursday and were on track to extend a roughly 67% decline over 12 months, according to Yahoo Finance.

Anduril will let employees sell stock in a tender offer that would value the company at roughly $90 billion, according to a report CNBC confirmed after Bloomberg first broke the news. Employees can sell at $94.80 per share in the offer, which opens Oct. 13 and closes Nov. 9, is capped at $1.3 billion, and is open to staff in 16 countries. The company is a major beneficiary of the U.S. defense tech boom, following a $5 billion funding round in May that doubled its valuation to $61 billion. This month, Anduril signed a U.S. Navy shipyard contract worth up to $2.9 billion, shortly after co-founder Palmer Luckey was named co-director of Project Meridian. The company develops drones, augmented reality headsets and AI software for the U.S. government and allied governments.