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 newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesIBMSEC Filingstwitter

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

Loek Essers

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?