UPDATE: 6:22 p.m.
Twitter priced its initial public offering at $26 a share late Wednesday, a move that clears the way for the stock to start trading Thursday.
The $26 IPO price values Twitter at $14.2 billion.
The company intends to raise $1.8 billion by selling 7o million shares in the public offering.
But if you’re a regular ol’ investor looking to buy a piece of Twitter, don’t get too excited about that IPO price.
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TWITTER – Looking to buy Twitter stock in the company’s initial public offering?
We now know about how much that’ll cost you.
In a regulatory filing late Thursday, Twitter set a preliminary price range of $17 to $20 per share for its IPO.
It also raised the maximum size of its offering to $1.4 billion, up from its previous $1 billion.
The company has about 545 million shares outstanding, so Twitter would be valued as high as $10.9 billion- slightly above previously reported valuation estimates.
Twitter plans to sell about 70 million of its shares in the IPO.
The company’s target price range isn’t binding, so we don’t know yet what price Twitter will ultimately set for its IPO.
The company will file several more rounds of paperwork before the IPO to provide a variety of new details– anything from setting a new price range, to more information about items like executive compensation.