Breaking News from CNBC's Kayla Tausche: Twitter Prices IPO at $26/Share - Sources
WHEN: Wednesday, November 6th
WHERE: CNBC's "Mad Money"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche. All references must be sourced to CNBC.
KAYLA TAUSCHE: YOU'RE WATCHING CNBC AND WE WILL BE BACK TO "MAD MONEY" MOMENTARILY. WE JUST WANT TO GIVE YOU AN UPDATE ON THE TWITTER PRICING. WE HAVE BEEN TALKING ABOUT IT ALL EVENING AND I AM JUST GETTING WORD FROM A SOURCE THAT IT IS PRICING AT $26 PER SHARE. THIS IS ONE DOLLAR ABOVE THE ALREADY RAISED PRICE RANGE -- $23 TO $25 A SHARE. THE COMPANY WILL RAISE ABOUT $1.8 BILLION WITH THE OPTION TO RAISE AN ADDITIONAL $273 MILLION IF THE PRICING GOES WELL. THIS WILL VALUE TWITTER ROUGHLY AROUND $18 BILLION WHEN YOU COMPUTE ALL OF THAT STOCK BASED COMPENSATION INTO THE DEAL. I REPEAT, $26 A SHARE FOR TWITTER. QUITE A RICH VALUATION FOR AN EMERGING GROWTH COMPANY, BUT NO DOUBT A LOT OF INVESTORS WILL BE FRENZYING TO GET INTO THIS DEAL TOMORROW. THAT IS THE LATEST NOW. WE WILL HAVE CEO OF THE NYSE EURONEXT DUNCAN NIEDERAUER AS WELL AS AN EXCLUSIVE WITH TWITTER CEO DICK COSTOLO ALL FIRST ON CNBC TOMORROW MORNING.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/