Digital payments company Square has publicly filed a registration statement for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).
The company, founded and led by Twitter CEO Jack Dorsey, in its regulatory filing said it would offer up to $275m in stock.
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Square intends to list its common stock on the New York Stock Exchange under the ticker symbol ‘SQ.’
The six-year-old company, known mostly for its square-shaped dongle that converts mobile phones into credit-card readers, posted a loss of $154.1m in 2014, compared to $104.5m in 2013. While its revenue rose to $850.2m from $552.4m in 2013.
The company also revealed that 95% of its revenue comes from payments and point-of-sale (POS) services, not ancillary services like cash advances to merchants.
Based on the filings, Dorsey is the largest shareholder, holding nearly 25% of Square’s stock.
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By GlobalDataThe IPO will be led jointly by Goldman, Sachs, Morgan Stanley, and JP Morgan.
