Nishtha KanalOct 10, 2013 14:01:16 IST
New information suggests that Twitter IPO’s big day could be November 15. The date emerged as part of an erroneous leak that was made by the company while completing the S-1 formalities with the Securities and Exchanges Commission.
While filling the form, lines about the date of the IPO is left intentionally blank. Twitter did follow the mantra and left information about the date of the IPO blank but slipped up elsewhere. The company ended up mentioning that February 15, 2014 is the day when the lock-up agreement for the company’s employees is slated to be lifted. Now, the date of the lift up usually is 90 days after an IPO, according to PrivCo, who spotted the date.
In a blog spot, PrivCo wrote, “The accidental date reveals for the first time that Twitter plans to IPO on November 15, 2013. PrivCo sources -- confirmed by the US JOBS ACT regulatory timetable for IPO dates following the first non-confidential public S-1 release -- indicate that as of mid-July, they intended to go public 3 months prior to February 15."
A quick calculation of the dates zeroes down on November 15 as the day Twitter’s IPO is out. This, obviously, does not seem to be a deliberate leak but a genuine oversight by whoever had been in charge of filing out forms with the SEC.
Twitter’s S-1 was officially revealed last week and created quite a buzz online with its numbers and figures. Most of the company’s revenue stories were out in the open and it was seen that Twitter is going public despite not being a profitable venture at this juncture. As of now, the network has 218 million monthly active users and is seeing a lot of its cash flow coming in via the mobile route.
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