Government Shutdown Won't Stop Twitter IPO - NBC Bay Area
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Government Shutdown Won't Stop Twitter IPO



    Despite the government shutdown, Twitter will still proceed with its $15 billion initial public offering this week, according to reports.

    Twitter will still post its IPO documents on the Securities and Exchange Commission website and offer a glimpse of the microblogging service's financial situation, CNN reported. The reason? Despite the shutdown, the SEC is allowed to keep its doors open until all funds are depleted, SEC spokesman John Nester told CNN. While other agency employees are furloughed until further notice, SEC workers will be there until the money is completely gone -- which will be in a few weeks.

    However, the SEC couldn't confirm whether the agency approved Twitter's $15 billion IPO. 

    Most of the government's websites will be up and running, but won't be updated -- with the exception of the Library of Congress which is pulling down its site. So, filing documents with the SEC is still possible, even if they won't be processed.

    For what it's worth, Twitter can get its IPO approved before the SEC closes its doors but it will have to work quickly. It's unknown how long the government shutdown will last.