Square (SQ) Prices IPO Low to Lure Investors

Square (NYSE: SQ) disclosed earlier Friday that it planned to offer 27 million shares of common stock with its IPO and expected pricing of $11 to $13 per share.

Notably, at the top-end of the range, Square would raise $403.7 million and be valued at $4.19 billion. The number comes in below the $6 billion valuation it garnered with its last Series E financing round, which valued shares at $15.50 apiece.

Market watchers suspect that the lower initial pricing is aimed at enticing investors ahead of its road show. Pricing could rise before the IPO commences.

Square's IPO is expected out before the Thanksgiving weekend.

Notably, Twitter (NYSE: TWTR) shares are slightly lower following Square's filing this morning. Jack Dorsey, who is CEO of Square, was also named as Twitter's CEO last month.

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