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Twitter Bumps Up Share Price Range

6/17/2014

By Sara Morrison
TheWrap

Twitter increased its expected share price on Monday, filing an amended form with the SEC that estimates shares will go for $23-25 each when the stock eventually goes on sale.

The increase brings the money Twitter hopes to raise with its initial public offering up to between 1.62 and 1.86 billion.

Also read: Twitter Slapped With $124 Million Lawsuit Over Share Sales

This would boost the company's market value to over $13 billion, despite the fact that it has yet to make a profit. It hopes to sell 70 million shares when it finally makes its NYSE bow, expected to be Thursday.

Previously, the stock was valued at $17-20.

Related stories from TheWrap:

Twitter Slapped With $124 Million Lawsuit Over Share Sales

How Twitter Can Avoid Facebook's IPO Nightmare

How Twitter's IPO Compares to Facebook: No Profits

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