Investors are warming up their wallets ahead of Twitter’s IPO launch likely to be held November 15th, 2013.
They’ve just updated their S1 filing with the SEC today and they are planning to sell 70 million shares at $17 to $20 per share, in order to raise about $1.4 billion in its coming IPO.
Twitter said they were trying to raise a billion dollars. This price point would give Twitter a valuation of almost $11 billion.
Here’s more according to VentureBeat:
The goal for Twitter through this entire IPO process has been to not pull a Facebook, whose IPO was marred with multiple stumbles and glitches, and as a result only recently surpassed its open day high. Facebook’s approach maximized company proceeds from the IPO, but minimized investor goodwill, and resulted in a below-water share price for almost a year.
Twitter will launch on the New York Stock Exchange under the symbol TWTR.