Under the transaction’s terms, Facebook had the option to accept between $375 million and $1.5 billion from the Goldman Sachs overseas offering, at the discreti

Under the transaction’s terms, Facebook had the option to accept between $375 million and $1.5 billion from the Goldman Sachs overseas offering, at the discretion of Facebook. While the offering was oversubscribed, Facebook made a business decision to limit the offering to $1 billion. One has to wonder if the fact that Goldman excluded U.S. investors from the round had to do with Facebook not raising the full $1.5 billion (which would push the total investment to a whopping $2 billion). They quoted a statement saying it was "oversubscribed" and that, had Facebook wanted to, they could have chosen to take $1.5b from it... and then analysed that to mean that they were unable to raise $1.5b. What?