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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