The updated filing confirms Snap is looking to sell 200 million class A shares.
On a fully diluted basis, which accounts for stock options and convertible shares, Snap's valuation is set to fall between $19.2 billion and $22.2 billion, according to a recent report in Bloomberg News.
People familiar with Snap's thinking had earlier said the company would seek a valuation of up to $25 billion.
The company confirmed these details in a filing with the Securities and Exchange Commission.
According to those familiar with Snap's IPO, the company is meeting with major mutual and hedge funds to hash out its true evaluation, before moving on to NY where it is expected shares will be priced as soon as 1 March.
Ninth Circuit Denies Trump's Travel Ban
But Washington state and Minnesota challenged the constitutionality of the order, saying the ban illegally targets Muslims. He said his new order would seek to address the issues raised by the court, even as he attacked its reasoning.
While the company hasn't officially announced a date for its public debut, sources tell Business Insider the public outing is expected to occur in March. Scheduled gatherings include an event in New York City next Tuesday. The roadshow then takes them to Boston, the Midwest, and the West Coast.
Snap launched itself in 2012 with an app that sends disappearing messages, rebranded itself past year as a camera company and started selling $130 video camera glasses.
By the fourth quarter, average daily active user growth fell below 50 per cent in those three months for the first time since at least 2014, according to the deal prospectus. The company makes the majority its money through advertising, and it booked revenue of $404.4 million a year ago, up from just $58.6 million in 2015.
Though Snap's IPO has generated great interest after a dearth of new listings past year, the company is playing it conservatively. It plans to list on the NYSE under the symbol SNAP.
The company adds that while it might purchase some "complementary businesses, products, services, or technologies", it is not anticipating any material acquisitions.
North Korea's Malaysian murder mystery
Foreign media had reported that Kim Chol was actually Kim Jong-nam, an elder half-brother of North Korean leader Kim Jong-un. He is believed to have been born May 10, 1971, although birthdays are always unclear for senior North Koreans, Gause said.
Snap issued those shares for almost $31, but in October it gave each of its shareholders an extra share for every one they owned, cutting the value of all in half.
Snapchat co-founders Evan Spiegel and Bobby Murphy are about to become billionaires. The class C stock represents 88.5% of the voting power of the outstanding capital stock after the IPO. "If Mr. Spiegel's or Mr. Murphy's employment with us is terminated, they will continue to have the ability to exercise the same". The company is selling 145 million non-voting Class A shares, and existing shareholders will sell 55 million, meaning total proceeds of United States dollars 2.8-3.2 billion, in line with its initial SEC filing for the offering.
Snap is likely to be asked questions about how the company plans to compete in a competitive market for users and advertising dollars. But they set the stage for Snap officials led by Chief Executive Evan Spiegel and investment bankers at Morgan Stanley and Goldman Sachs to hold discussions with potential investors around the world about their interest in betting on the almost 6-year-old company.
Snap's executives are also likely to be quizzed on the company's path to profitability. Net losses widened to $514.6m from $372.9m in that period.
India breaks world record with simultaneous launch of 104 satellites
It set the record for most satellites launched in June 2014, when its Dnepr rocket carried a cluster of 37 satellites into orbit. India's president Pranab Mukherjee and prime minister Narendra Modi welcomed the news, with the latter announcing it on Twitter.