Twitter Could Raise Up To $1.6B In IPO
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Twitter will be selling 80.5 million shares that are priced at between $17 and $20 under the initial public offering, according to an SEC document filed on Thursday. Based on these numbers, Twitter could raise up to $1.6 billion. Twitter will sell 70 million shares initially and then sell an additional 10.5 million if the stock performs well once it starts trading. Twitter will be valued at $11.1 billion on the high end range. Twitter gave themselves an internal valuation of $9.7 billion last month. Twitter will likely start trading early next month on the New York Stock Exchange.