Meta Plans to Issue New Non-Voting Stock for Capital Raising

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Meta Plans to Issue New Non-Voting Stock for Capital Raising
Meta Platforms Inc. has established a new class of non-voting stock that it could use to fund its heavy spending on artificial intelligence.
The company will distribute a dividend consisting of the new Class C stock to existing investors, Meta said Wednesday in a filing. Holders will get one share of the new stock for each existing share they hold, in what the company expects will have the effect on the market price for its Class A stock equivalent to a two-for-one stock split.

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