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.
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NTU....I was aware of a $125 million dollar Lawsuit, but not anything to do with a fine...?
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The company is struggling to make a profit and is overvalued, and disappointing trends will continue to weigh on the stock.
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