Twitter increases top end of IPO price to $25 a share

November 04, 2013

Twitter on Monday increased the price of shares in its initial public offering to a range of $23 to $25 per share and also revealed that IBM has claimed the company has infringed on several patents. Twitter plans to issue 70 million shares, according to a document filed with the U.S. Securities and Exchange Commission (SEC), which would mean that Twitter could raise $1.75 billion if it sells its shares for the maximum $25 amount. Twitter previously estimated it would sell its shares for between $17 and $20. Twitter on Monday also updated the risk factors disclosed to the SEC, expanding the intellectual property right threats the company faces, specifically highlighting a claim by IBM. “From time to time we receive claims from third parties which allege that we have infringed upon their intellectual property rights. In this regard, we recently received a letter from International Business Machines Corporation, or IBM, alleging that we infringe on at least three U.S. patents held by IBM,” said Twitter in the filing, adding that IBM has invited Twitter to negotiate a business resolution. To read this article in full or to leave a comment, please click here

Link: http://www.pcworld.com/article/2060620/twitter-increases-top-end-of-ipo-price-to-25-a-share.html#tk.rss_all