What would happen to an option price if the business doesn’t hit the strike price by the close of business?

If the business stock price doesn't hit the strike price by expiration (which is close of the business), the contract will be "out-of-the-money". "Out-of-the-money" means the intrinsic value of the option derivative will be zero.

According to your example above, if the price of the Facebook option is below 325 or at 325 at expiration, the option will be worthless (i.e. zero.)