Twitter has set the terms of its IPO. The social media company, which plans to list on the NYSE under the symbol TWTR, expects the offering to include 70 million shares priced between $17 and $20 apiece. If the company prices at the midpoint of its expected range, the offering would bring in about $1.3 billion. Twitter intends to use its net proceeds from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures. The company is currently backed by several investors, including Rizvi Traverse Management (17.9% pre-IPO stake), J.P. Morgan (10.3%), Spark Capital (6.8%), Benchmark Capital (6.6%) and Union Square Ventures (5.9%), among many others.