The New York Stock Exchange has approved Twitter stock for trading and those shares will go on sale Thursday. In the meantime Twitter on Wednesday is expected to announced the final share pricing structure for its highly anticipated IPO.
On Monday Twitter executives suggested a $23 to $25 sale price per share. That number is up from earlier estimates that placed shares between $17 to $20.
Twitter plans to raise money through the sale of 70 million shares. If demand is strong enough the company has 10.5 million shares that can be released to investors.
The $25 range is only likely if demand is high enough for Twitter to release the final 10.5 million reserve shares.
In preparation for the initial public offering Twitter recently published its first ever fully detailed financial data. That data shows rising revenue and increasing losses for the San Francisco based company.
According to its financial records Twitter lost nearly as much money from July-to-September as it did the first six months of the year. Revenue from July to September was $169 million, nearly double the same period from one year prior. That value is a quarterly record for the firm. The social platform racked up a net loss of $64 million over the same three-month period. Twitter’s net loss was three times worse than the same fiscal quarter last year.