Twitter tweeted two weeks ago that it had filed for an initial public offering.
But now that IPO filing is ready, and the company intends to make it public this week, according to Quartz citing an unnamed source that is “familiar with the plan.”
The goal is for Twitter to begin trading, likely on the New York Stock Exchange, before Thanksgiving, according to the source — although the person also hedged that by saying the filing could still be delayed by a variety of factors, from changes to the prospectus to market conditions.
Back on Sept 12, Twitter first tweeted that it had “confidentially submitted an S-1 to the SEC for a planned IPO.” But Twitter had actually made that submission about two months earlier, in July. The September announcement wasn’t required by law, but Quartz said its source said Twitter intended to get out ahead of any press leaks and avoid a frenzy later on by simply making a public filing with no warning.
When it does make its filing public, it also must disclose any previous drafts of the document that were submitted to the SEC.
According to TheStreet.com, Twitter’s IPO price will in the range of $28 to $30 a share, which would value the company between $15 billion and $16 billion.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more