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Twitter will offer 70 million shares priced between $17 and $20 in its IPO

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Twitter for iOS app icon
Twitter for iOS app icon

As Twitter gets closer to its initial public offering (IPO), more and more details are leaking out, and now we know exactly how many shares will be available when the company hits the market. According to a new document filed with the SEC, Twitter will offer 70 million shares and expects to price them between $17 and $20. That's a good bit less than Facebook hit the market at — but given the wild ride that its stock went on over the following year, Twitter's more conservative pricing might be to the benefit of potential investors. Though, as noted by Bloomberg, Twitter's average revenue per user is less than half of Facebook's, and the company has a significantly smaller userbase than Facebook as well.

There's also an option to purchase another 10,500,000 shares depending on whether or not Twitter's underwriters decide to pick up their option. Just using the 70 million stocks as a baseline, Twitter's IPO could raise $1.4 billion using its upper price target. With the number of shares and a target price set, the company should make its debut on the New York Stock Exchange before too long, though there isn't a public target date just yet.