Meta's Unusual Stock Split Comes With a $60 Billion Twist Investors Should Know About

Meta’s planned $60 billion at-the-market stock-sale program is the key “twist” behind its unusual Class C structure, disclosed in an October 26 financing announcement. The company plans to issue nonvoting Class C shares via a stock dividend, effectively creating a 2-for-1 split, with trading expected to begin in late January 2027. Meta also has a broader plan worth about $95 billion: roughly $35 billion through underwritten public offerings, including $22.5 billion in common stock and about $12.5 billion tied to mandatory convertible preferred stock. Because the new shares are the same class that the $60 billion could sell, timing and classification matter. Meta expects 2026 capex of $135 billion to $145 billion, generated about $97 billion operating cash flow in the first nine months, and reported negative $2.12 billion free cash flow in the latest quarter.