Twitter finally puts a price tag on IPO: $26 per share
Twitter followers and shareholder wannabees, set your alarm clocks early for Thursday.
The road to Twitter's IPO:
After plenty of rumors and guesstimates floating around over the past few days, the San Francisco-based company has finally put an official price tag on its initial public offering.
The number to know there is $26 per share. Furthermore, Twitter will be making 70,000,000 shares of common stock available.
Goldman Sachs, JP Morgan, Morgan Stanley, BofA Merrill Lynch, and Deutsche Bank have been enlisted as the chief bookrunners. Code Advisors and Allen & Company have been tapped to act as co-managers.
Naturally, when the official news broke, Twitter went crazy -- with Tweets, that is -- with an immediate fervorous debate about whether that figure is too low, too high, or maybe even just right.
By comparison, Facebook (the company everyone wants to compare Twitter to on this topic) debuted at $38 per share.
Obviously, there are plenty of differences between Twitter and Facebook's IPOs, starting with (but certainly not limited to) the stock exchanges themselves.
Facebook's problematic launch started with technical errors (followed by plenty of skepticism from analysts and investors) on the Nasdaq.
We just priced our IPO. pic.twitter.com/NWXaO4Myq0
— Twitter (@twitter) November 6, 2013
Twitter is hoping to avoid that mess on the New York Stock Exchange when it debuts as a public company tomorrow under the ticker symbol, "TWTR."
The NYSE already conducted a test run of its computer systems over the last weekend of October, promising that a repeat of the Facebook events won't occur.