Twitter IPO prices at $26 a share
That's up from the original expected range of $23 to $25, and values the company at $18.3 billion.
By Cadie Thompson, CNBC.com
Twitter (TWTR) priced its stock at $26 per share for its initial public offering, the company said on Wednesday in a tweet.
Earlier, underwriters involved with the Twitter IPO aimed to price the social network's stock at $27, barring any last-minute hitches, according to three people familiar with the matter.
The original expected range was $23 to $25 per share. With 70 million shares to be issued, the company will raise nearly $2 billion, valuing the company at $18.3 billion, fully diluted.
The social media company said in its statement that it has also granted underwriters a 30-day option to purchase up to 10.5 million additional shares of common stock.
The stock is set to begin trading on Thursday and will trade under the stock symbol "TWTR" on the New York Stock Exchange.
More from CNBC
- Will Twitter IPO pop? Hedge funds weigh in
- Mystery solved: Google breaks silence on barge
- Wal-Mart accidentally slashes prices, blames glitch
NTU....I was aware of a $125 million dollar Lawsuit, but not anything to do with a fine...?
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Bill Stiritz owns more than 5% of the company, and has experienced an estimated $145 million in paper losses on his investment.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.