Friday, November 6, 2015

Square Sets Estimated IPO Pricing Range

San Francisco-based Square has kicked off its IPO roadshow, saying in a filing today that it now estimates an initial public offering price of between $11.00 and $13.00 per share. The company has applied to list on the New York Stock Exchange as SQ. Square said it is looking to sell 27,000,000 shares of its common stock in the offering, meaning it will raise $403.65M in the IPO, if it prices at $13.00 per share. Square is venture backed by Khosla Ventures (17.3% ownership before IPO), JP Morgan (5.5%), Sequoia Capital (5.4%), Rizvi Traverse (5.4%).