Facebook's Goldman (NYSE:GS) Offering Not Available to U.S. Investors

Investors from the U.S. will be blocked from participating in the private offering from Goldman Sachs (NYSE:GS) for Facebook, with the giant financial institution citing the amount of coverage the offering has incurred, which could somehow be interpreted as going outside of Securities and Exchange Commission guidelines for public placements.

The offering is projected to raise up to $1.5 billion for the social networking site.

One potential shareholders residing in Europe or Asia will be allowed to participate in the Facebook offering from Goldman.

Citing an unnamed person close to the situation, the Wall Street Journal said already about $7 billion in orders have been received for Facebook.

An offshore fund has been set up by Goldman, of which U.S. investors were originally going to be allowed to invest in before the Monday news saying it has now changed.