Reddit Inc. and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, the second big tech listing in as many days.
The social media platform, along with its top executives and other employees, sold 22 million shares for $34 each, according to a statement confirming an earlier report by Bloomberg News. The shares were marketed in the IPO for $31 to $34. At the IPO price, Reddit has a market value of $5.4 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission.
About 8% of the IPO shares are being set aside for Reddit users and moderators who created accounts before Jan. 1, as well as some board members and friends and family of some employees and directors. Those shares won’t be subject to a lockup, meaning the owners can sell them on the opening day of trading, according to Reddit’s filings. Reddit’s largest shareholder is Advance Magazine Publishers Inc.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Reddit Aims to Raise $748 Million in IPOReddit plans to raise up to $748 million in its upcoming IPO, seeking a valuation of about $6.5 billion. The company will sell about 22 million shares between $31 and $34 per share. Redditors participating in the IPO may cause increased volatility in the stock market.
Weiterlesen »
Reddit-based tokens MOON and BRICKs rally ahead of oversubscribed Reddit's IPOReddit-related tokens r/CryptoCurrency Moons (MOON) and r/FortNiteBR Bricks (BRICK) are rallying sharply on Wednesday, ahead of Reddit's (RDDT.N) Initial Public Offering (IPO), which has been reported as oversubscribed.
Weiterlesen »
Reddit Priced IPO At $34 Per Share—Hitting The High End Of Its RangeI am a Colorado-based reporter. Before joining Forbes, I covered education and local government in Fort Collins, Colorado. I am a graduate of Creighton University, where I got a BA in journalism, and Arizona State University, where I got an MA in investigative journalism. Send tips at mbohannonforbes.com and follow me on Twitter molboha.
Weiterlesen »
Reddit IPO prices at $34 per share amid strong demandReddit will enter a new era as a publicly traded company with a market value of $6.4 billion. The social media platform’s initial public offering was priced at $34 per share Wednesday. The price came in at the top end of the target range set by Reddit’s investment bankers as they spent the past few weeks gauging investor demand for the stock.
Weiterlesen »
Reddit prices IPO at $34 per share in first major social media offering since 2019Reddit priced its IPO on Wednesday at $34 a share, valuing the social media company at about $6.5 billion.
Weiterlesen »
Reddit power users balk at chance to participate in IPO as Wall Street debut nearsReddit is inviting some users to participate in its IPO this week, but moderators told CNBC that they're not taking the company up on its offer.
Weiterlesen »