Square Is Expecting A $400 Million IPO

Square Mobile Payments

Mobile payments company Square is hoping to raise between $11 and $13 per share when its IPO debuts. Based on those expectations the company is hoping to grab $403.7 million from investors.

 

The Jack Dorsey-led company filed an initial target of $275 million on October 14.

Square said in a regulatory filing it would sell 25.7 million Class A common shares, while selling stockholder Start Small Foundation would sell about 1.35 million.

The company was founded in 2009 and was valued at $6 billion following a new funding round in 2014.

There are still some looming questions about the company, mainly how founder and CEO Jack Dorsey will split his time as the CEO of both Square and Twitter.

 

Goldman Sachs, Morgan Stanley and J.P. Morgan Securities are among 10 firms underwriting the offering.

 

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.