Facebook Offering 421,233,615 Shares Priced at $38 Per Share

Facebook's initial public offering of 421,233,615 shares of its common stock for the public is priced at $38 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on May 18, 2012, under the symbol "FB." "Facebook is offering 180,000,000 shares of Class A common stock and selling stockholders are […]

Facebook's initial public offering of 421,233,615 shares of its common stock for the public is priced at $38 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on May 18, 2012, under the symbol "FB."

"Facebook is offering 180,000,000 shares of Class A common stock and selling stockholders are offering 241,233,615 shares of Class A common stock. Closing of the offering is expected to occur on May 22, 2012, subject to customary closing conditions," the company announced in a press release.

In addition, Facebook and the selling stockholders have granted the underwriters a 30-day option to purchase up to 63,185,042 additional shares of Class A common stock to cover over-allotments, if any.

Facebook has also posted a new "Likers Gonna Like" inspirational mini-poster printed by the Facebook Toronto Office. The poster wasn't officially produced by Facebook Analog Research Laboratory, which made the company's famous "Stay Focused & Keep Shipping" and "Move Fast Break Things" posters. It's a 8.5 x 11 inch printout, according to Sachin Monga of Facebook's Toronto platform strategy team who snapped the photo above. But it's still being widely Liked and shared by employees, showing the words resonate with them as they watch Facebook IPO later this morning.

Facebook Likers Gonna Like

Also, hundreds of Facebook employees congregated at 'Hacker Square' at the company's Menlo Park headquarters ahead of the company's insanely-hyped initial public offering. Now, some of the first photos are starting to trickle in.

Facebook Hackathon 2012

Mark Zuckerberg at 31st Hackathon

There was a standing ovation for chief executive Mark Zuckerberg, who gave a talk before several long-time engineers bounced in while wearing capes or bringing boomboxes.

Facebook rolled out new granular in-line notification controls. Hover over an alert in the Facebook.com homepage's globe icon drop-down and click the 'x' for the option to turn off notifications from that app, group, event, or post you commented on. The whole drop-down has a slick new look, and you can scroll down to much older notifications too.

Facebook Notification control

Facebook Notification Control Settings

"Previously you had to dig your way to the dedicated Notifications Settings page to make these changes, and there was no way to turn off a specific source of alerts -- you had to silence all your events or all your posts."

The new controls should be especially helpful for quieting noisy groups. One minute someone adds you to a group without your consent, and the next minute you're getting dozens of notifications about weird music genres or lame club nights. Facebook recently made it much easier to find notification controls on group pages, but now you don't even have to visit to shut off these alerts.

Facebook says "The intent behind the change is to modernize the UI and add some features which will help users more easily consume and curate their notifications."

And, that most of the changes to notifications will be rolled out to everyone by tonight, except for app alert controls which are still in testing.