Snapchat have updated their SEC filing and here is the list of banks working on the deal.
- Morgan Stanley & Co. LLC
- Goldman, Sachs & Co.
- J.P. Morgan Securities LLC
- Deutsche Bank Securities Inc.
- Barclays Capital Inc.
- Credit Suisse Securities (USA) LLC
- Allen & Company LLC
- BTIG, LLC
- C.L. King & Associates, Inc.
- Citigroup Global Markets Inc.
- Connaught (UK) Limited
- Cowen and Company, LLC
- Evercore Group, LLC
- Jefferies LLC
- JMP Securities LLC
- LionTree Advisors LLC
- LUMA Securities LLC
- Mischler Financial Group, Inc.
- Oppenheimer & Co. Inc.
- RBC Capital Markets, LLC
- Samuel A. Ramirez & Co., Inc.
- Stifel Financial Corp.
- SunTrust Robinson Humphrey, Inc.
- The Williams Capital Group, L.P.
- UBS Securities LLC
- William Blair & Company, L.L.C.
If you've an account with one of these you might be able to get in at the IPO price!
According to the FT paywalled :( they are filing a price range of
A price range of $14 to $16 a share, revealed in an updated regulatory filing on Thursday, puts Snap’s valuation in a range of $19.5bn to $22.2bn. The range is based on a share count that includes half the greenshoe - the option for the underwriters to sell additional shares in the offering -stock and restricted stock units already issued to employees and half of the additional shares that chief executive Evan Spiegel is set to be rewarded with, for taking the company public. The company’s market capitalisation would be smaller, at between $16.2bn and $18.5bn.
So the 2 week roadshow kicks off on Monday 20th Feb. Then we should watch out for Tuesday 28th... if the price range is upgraded then, we know it's hot and is likely to close early, pricing above the price range on Thurs 2nd. i.e. expect conditional trading on Friday 3rd March if the deals a blowout. If not... "Oops, Goldman / Morgan Stanley"!
ASIDE: weird that Deutsche Bank & BoAML aren't on the ticket. They've hired pretty much everyone else :(
PS: and my suggestion that Facebook is going to try and buy Snapchat, will look silly soon! :)
Submitted February 16, 2017 at 12:05PM by shane_stockflare http://ift.tt/2lbZ4Zx
