Twitter headquarters, on Market Street in San Francisco (Olivia Hubert-Allen).
Twitter headquarters, on Market Street in San Francisco. (Olivia Hubert-Allen)

Update, 9 a.m. Thursday: Twitter Debuts on NYSE, Then Goes Nuts

Original post: Twitter — to be known on the New York Stock Exchange as TWTR — just set a price for its initial public offering, scheduled to open trading Thursday morning. The price: 26 bucks. That’s way above the original range of $17 to $20 and even higher than the revised (not to say “jacked up”) range of $23 to $25 announced earlier this week.

The company announced the news on its own service, naturally (we think they’ve cheated on the 140-character limit with the linked disclaimer document, though):

One line from that disclaimer: “This Tweet shall not constitute an offer to sell or the solicitation of an offer to buy” the company’s stock.

Here’s the story from the Associated Press:

NEW YORK — Twitter has set a price of $26 for its initial public offering of stock, which means the company’s shares can begin trading Thursday on the New York Stock Exchange.

The price values Twitter at more than $18 billion based on its outstanding stock, options and restricted stock that’ll be available after the IPO.

Twitter Inc. had originally set a price range of $17 to $20 per share for its IPO, but analysts expected that to go higher. The company raised the range on Monday to $23 to $25 per share, signaling enthusiastic response from prospective investors.

The San Francisco-based short messaging service is offering 70 million shares in the IPO, plus an option to buy another 10.5 million. It is set to begin trading Thursday morning under the symbol “TWTR.”


Dan Brekke

Dan Brekke is a blogger, reporter and editor for KQED News, responsible for online breaking news coverage of topics ranging from California water issues to the Bay Area's transportation challenges. In a newsroom career that began in Chicago in 1972, Dan has worked as a city and foreign/national editor for The San Francisco Examiner, editor at Wired News, deputy editor at Wired magazine, managing editor at TechTV as well as for several Web startups.

Since joining KQED in 2007, Dan has reported, edited and produced both radio and online features and breaking news pieces. He has shared in two Society of Professional Journalists Norcal Excellence in Journalism awards — for his 2012 reporting on a KQED Science series on water and power in California, and in 2014, for KQED's comprehensive reporting on the south Napa earthquake.

In addition to his 44 years of on-the-job education, Dan is a lifelong student of history and is still pursuing an undergraduate degree.

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