Twilio Proposes Sale Of $1B Class A Shares
Twilio has proposed an offering of $1 billion worth of its Class A
common shares, the company said on Feb. 18. All shares in the
proposed offering will be sold by the cloud communications company.
In addition, Twilio expects to grant underwriters a 30-day option
to purchase up to an additional $150 million worth of shares of its
Class A common stock. Shares of Twilio (TWLO) fell 3% in
after-hours trading after gaining 7.7% on Feb. 18. As of Feb. 18,
TWLO had a market capitalization of approximately $67 billion.
Meanwhile, on Feb. 17, the company surprised investors by posting a
profit for the fourth quarter.