And they are off as Twitter prices just shy of the whisper $27 upper end of the IPO range, raising $1.82 billion in equity proceeds for the 70 million shares it will sell (before the greenshoe is exercised).
For those curious, this is how the big client-focused banks are advising their brokers to handle the IPO:
- [We] will not be accepting BUY market orders pre-open.
- Orders placed before 9:28 am will be included in the opening print; however, if the IPO opening is pushed past 9:30, [we] will handle opening orders placed after 9:28am on a best efforts basis.
- When TWTR opens, any limit order whose price deviates more than 15% from the National Best Bid / Offer (NBBO) will be rejected.
So make sure to have that limit buy just around 14% below the NBBO if and when the market crashes once again and some algo takes TWTR to $0.002 in a millisecond.
All we have left now is the debacle of the opening of this to the public at tomorrow's NYSE open... For now Topeka's Victor Anthony tops the pile of analyst with a $54 PT...
Here are the financials...
[4]
And here is where the analysts see it:
[5]
Of course - now that TWTR is done, we move to the next one...
- SQUARE IPO MAY INVOLVE GOLDMAN, MORGAN, CNBC SAYS ON TWITTER