Photo: Jesse Waits
Today Facebook amended its S-1 filing.In it is this juicy tidbit:
If, for some reason, the Instagram acquisition deal doesn’t close (it’s expected to next quarter), Facebook owes Instagram a $200 million termination fee.
If all goes according to plan, Facebook will acquire Instagram for approximately 23 million shares of its common stock and $300 million in cash.
From the revised S-1:
We have agreed to pay Instagram a $200 million termination fee if governmental authorities permanently enjoin or otherwise prevent the completion of the merger or if either party terminates the agreement after December 10, 2012.