Square Slashes IPO Price to $9 a Share

November 19, 2015 2:52 AM

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Jack Dorsey's payments company Square has finally set the price for its much anticipated IPO at $9 per share, according to the Wall Street Journal. That will give the company a market cap of $2.9 billion when it starts trading on the NYSE Thursday.

The share price has been lowered from the $11 to $13 per share price range initially proposed by Square in its S1, which would have given a $4.2 billion valuation at the high end.

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