Tough one to figure unless it's simply a formality. Apparently, it's not unusual to put in place an SEC filing for a secondary stock offering to take advantage of timely access to capital markets when conditions are optimal. So maybe it's simply a flexibility step. What I found interesting were the numbers. It said the prospectus indicated the right to issue 200M preferred shares and 10.2 billion common shares (5.6B class B and 4.6B class A). It made me wonder if this is a precursor to a stock split? Presently, we have 938.28M shares outstanding with a 721.5M float. It also makes me wonder further about the concerns I expressed in an earlier post about buying shares back when they are so richly valued. Anyone with a definitive financial background able to offer better analysis?