Numerous reports have indicated that Facebook would file its IPO papers on Wednesday. The Wall Street Journal broke the news last week.
Today, Reuters is reporting that Facebook will indeed file on Wednesday, and that Facebook is expected to raise $5 billion in a preliminary IPO prospectus, "which while less than anticipated could be increased to ultimate investor demand." The report cites "sources close to the deal".
The report also says Facebook has hired five bookrunners, with Morgan Stanley as the leader, but also including Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan. Reuters' sources reportedly indicated more could be added to the list.
It looks like the actual IPO is still expected for May, as has been indicated in the past.
comScore released new numbers this week pegging Facebook as the leader in online display ads for the third year in a row. And continued ad expansion is in the works.