Andre Yoskowitz
24 Oct 2013 22:06
Twitter will IPO with 70 million shares, pricing at $17-$20 as the company hopes to raise $1.4 billion.
The updated numbers come via an amended S-1 filing revealed today.
"Prior to this offering, there has been no public market for the common stock. It is currently estimated that the initial public offering price per share will be between $17.00 and $20.00," the amendment reads. "Our common stock has been approved for listing on the New York Stock Exchange under the symbol "TWTR."
Additionally, it was revealed that most of the company's directors and top executives are selling small portions of their stock. For example, chairman Jack Dorsey will sell 0.6 percent of the company, or about $60 million worth, while co-founder Evan Williams will sell 1.6 percent and keep the other 10.4 percent.
The company is expected to IPO the week of November 6th.