Square, which offers a mobile payment service with credit card readers for phones and tablets, filed on Wednesday with the SEC to raise up to $275 million in an initial public offering.
Co-founder and CEO Jack Dorsey is also a co-founder and CEO of Twitter (NYSE: TWTR). He will be splitting his time and attention between the two companies, a move that has recently drawn criticism from Twitter's board of directors.
The San Francisco, CA-based company, which was founded in 2010 and booked $1.0 billion in sales for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol SQ. Goldman Sachs, Morgan Stanley, J.P. Morgan, Barclays, Deutsche Bank, Jefferies, RBC Capital Markets and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
