Published On: Tue, Jul 20th, 2021

Robinhood Sees Valuation of up to $35 Billion as Public Co. Save 10% on Citrus trees with code CITRUS
Share This

Robinhood, the online brokerage that found itself embroiled in this year’s meme stock phenomenon, will go public next week seeking a market valuation of up to $35 billion. The company said in a regulatory filing Monday that it hopes to price 55 million shares in its initial public offering in a range of $38 to $42 per share. It could raise about $2.3 billion if the shares are sold at the high end of the range. Robinhood is offering about 52.4 million shares. The company’s founders Baiju Bhatt and Vladimir Tenev, and Chief Financial Officer Jason Warnick, are offering about 2.6 million shares. The company won’t receive any proceeds from shares sold by its officers and founders. The underwriters have an option to buy 5.5 million shares to cover any overallotments. Robinhood’s IPO will give investors a chance to own a big slice of a fast-growing company that has rocked …

About the Author