Twitter increases top end of IPO price to $25 a share

The compnay also reveals that IBM has said that Twitter infringes several patents

Twitter on Monday increased the price of shares in its initial public offering to a range of US$23 to $25 per share and also revealed that IBM has claimed the company has infringed on several patents.

Twitter plans to issue 70 million shares, according to a document filed with the U.S. Securities and Exchange Commission (SEC), which would mean that Twitter could raise $1.75 billion if it sells its shares for the maximum $25 amount. Twitter previously estimated it would sell its shares for between $17 and $20.

Twitter on Monday also updated the risk factors disclosed to the SEC, expanding the intellectual property right threats the company faces, specifically highlighting a claim by IBM.

"From time to time we receive claims from third parties which allege that we have infringed upon their intellectual property rights. In this regard, we recently received a letter from International Business Machines Corporation, or IBM, alleging that we infringe on at least three U.S. patents held by IBM," said Twitter in the filing, adding that IBM has invited Twitter to negotiate a business resolution.

According to IBM, Twitter infringes on a patent that describes a method of providing links to remotely located information in a network of connected computers, as well as a patent that provides a method for presenting advertising in an interactive service. The third patent describes the programmatic discovery of common contacts, according to the filing.

"Based upon our preliminary review of these patents, we believe we have meritorious defenses to IBM's allegations, although there can be no assurance that we will be successful in defending against these allegations or reaching a business resolution that is satisfactory to us," Twitter said.

Twitter is currently involved in a number of intellectual property lawsuits, it said. In addition, because the company faces increasing competition and is gaining an increasingly high profile, it said it expects the number of patent and other intellectual property claims against it to grow.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com

Join the PC World newsletter!

Error: Please check your email address.

Tags business issuesIBMtwitterSEC Filings

Struggling for Christmas presents this year? Check out our Christmas Gift Guide for some top tech suggestions and more.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Loek Essers

IDG News Service

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?