Robinhood’s initial public offering (IPO) is nearing as it fine-tunes its registration statement for the Securities and Exchange Commission. As was reported earlier today, more details on the IPO were shared in an updated S-1 posted today. Robinhood is expected to float its shares on the Nasdaq, under the ticker “HOOD”, at some point next week.
As part of the filing, Robinhood revealed the amount of shares that may be made available to its own customers. The document states that it seeks to offer approximately $440 million to $770 million worth of shares to Robinhood customers through its IPO Access feature. This means almost one-third of its shares could be picked up by retail investors.
As part of the pitch to retail, Robinhood has announced a public roadshow to bring its story to the retail investing community. The Livestream event will feature a presentation from Robinhood CEO and Co-Founder Vlad Tenev as well as other Robinhood executives. There will be a live Q&A where questions submitted by retail investors will be answered by Robinhood representatives.
If you are interested, the IPO Roadshow will be open to the public on Saturday, July 24 from 12-1 PM PT / 3-4 PM ET at roadshow.robinhood.com.
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