Facebook Shares Up 4.2% In This Week’s SecondMarket Auction

We’ve been tracking these fabulous SecondMarket Facebook stock auctions for the last three weeks. The shares hit a roughly $50 billion valuation in a big auction in late November, when $40 million changed hands. Last week the price edged up 1.2% to $21.01.

This week’s auction has now closed as well. The closing price was $21.90, up 4.2% from last week. Someone actually guessed that price in our TechCrunch tshirt contest (see comments), and we’ll be contacting them and shipping it out right away.

What will next week’s price be? Be right and get a TechCrunch Tshirt.

Here’s the email to participants:

To all Facebook shareholders:

Thank you to those who participated in this week’s Facebook auction. The auction was again successful and fully cleared at a per share price of $21.90. Next week, the reserve price will be $21.50, and we will continue to require a minimum sale of 25,000 shares.

If you own shares that you are eligible to sell and wish to participate as a seller, please complete the attached Seller Information Sheet and submit it to SecondMarket at [email protected] by Monday, December 13 at 11:59 PM EST.

Please see below for detailed results on previous auctions and for this week’s auction calendar:

Previous Auction Results:

Total Shares Cleared to Date: 2,471,265

December 6, 2010:
Total Number of Shares Offered for Sale: 100,000
Number of Shares Cleared in Auction: 100,000
Reserve Price: $21.50
Clearing Price: $21.90

November 29, 2010:
Total Number of Shares Offered for Sale: 475,000
Number of Shares Cleared in Auction: 475,000
Reserve Price: $20.60
Clearing Price: $21.01

November 22, 2010:
Total Number of Shares Offered for Sale: 1,896,265
Number of Shares Cleared in Auction: 1,896,265
Reserve Price: $20.60
Clearing Price: $20.76

Next Week’s Auction Timeline:

· Monday, December 13 at 10:00 AM EST – Auction process commences

· Monday, December 13 at 11:59 PM EST – Seller order forms due

· Tuesday, December 14 at 9:00 AM EST – Buyers informed of share quantity available

· Wednesday, December 15 at 12:00 PM EST – Buyer order forms due

· Wednesday, December 15 at 5:00 PM EST – Participants informed of auction results

· Wednesday, December 15 at 8:00 PM EST – Transaction documentation distributed to buyers and sellers

· Friday, December 17 at 4:00 PM EST – Completed transaction documentation due from buyers and sellers

· Friday, December 17 at 7:00 PM EST – Notice to be sent to Facebook, Inc.