SAN FRANCISCO — Square, the digital payments company run by Jack Dorsey, has filed paperwork for an initial public offering.
The company made the announcement after the markets closed on Wednesday.
Square said it intends to list its common stock on the New York Stock Exchange under the ticker symbol “SQ.”
Dorsey last week was named chief executive of Twitter, which he also co-founded, meaning he will soon run two publicly traded companies.
The filing comes about three months after Square filed confidentially for an IPO, taking advantage of the Jumpstart Our Business Startups Act, which allows companies with less than $1 billion in revenue to quietly and privately file IPO paperwork with the Securities and Exchange Commission.
Twitter also chose to file its IPO paperwork this way. In September 2013, the company tweeted: “We’ve confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale.”
Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan are managing the Square deal, along with Barclays, Deutsche Bank Securities, Jefferies, RBC Capital Markets, and Stifel. David Viniar, the former Goldman Sachs chief financial officer, joined the Square board in October 2013.
Goldman Sachs was also the lead banker on the Twitter IPO.
Square is valued by private investors at $6 billion.
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