Twitter files for IPO

“Twitter tweeted Thursday afternoon that it has filed for an initial public offering,” Matt Krantz and Alistair Barr report for USA Today.

“The wording comes straight out of the boilerplate language used on a typical regulatory filing when a company intends to sell publicly traded shares to investors,” Krantz and Barr report. “And the message is clear: The company is ready for the public to join the party.”

Krantz and Barr report, “So far, the company had not filed an official registration statement with the Securities and Exchange Commission, which is the first step in moving toward an IPO. By submitting the S-1 to the SEC in private, that gives regulators a chance to look it over and point out any issues before Twitter makes it available to the public, says Francis Gaskins of IPOdesktop.com. No price range for the stock has been set.”

https://twitter.com/twitter/statuses/378261932148416512

“Twitter shares have traded in the so-called private secondary market, which lets shareholders and stock-owning employees of private start-ups sell some of their stakes to other investors. A fund run by BlackRock put $80 million into Twitter at the start of 2013, and that deal valued the company at more than $9 billion. Some other, smaller secondary market deals have valued Twitter at over $10 billion,” Krantz and Barr report. “Given the status of the filing at this point, Gaskins expected the deal to hit the stock market by early December.”

Read more in the full article here.

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