Robinhood has filed confidential paperwork to pursue an initial public offering (IPO), a source familiar with the matter said on Tuesday.
March 24, 2021 | AtoZ Markets – Robinhood, a digital asset-friendly platform, has filed an S-1 IPO with the US Securities and Exchange Commission (SEC).
We have confidentially submitted our draft registration statement on Form S-1 with the SEC https://t.co/0p4QctvaIM— VLAD (@vladtenev) March 23, 2021
The number of shares offered to investors and their price range will be determined later.
Robinhood files confidential paperwork to go public
According to sources from Bloomberg, the placement could take place in the second quarter after the completion of the SEC audit and subject to favorable market conditions. It remains unclear if it will take the form IPO or direct listing of shares.
AtoZ Markets also previously reported that Robinhood hired Goldman Sachs to lead the IPO.
Earlier, CNBC sources said Robinhood securities will appear on the Nasdaq.
Last year, according to the results of the Series G round, the capitalization of Robinhood exceeded $11 billion. In early 2021, the company raised $3.4 billion despite the scandal surrounding GameStop, Dogecoin and Reddit traders.
On February 18, co-founder and CEO of the platform, Vlad Tenev, apologized for a temporary ban on the purchase of a number of securities at a hearing at the Financial Services Committee of the US House of Representatives.
Recently Vlad Tenev said the company is working to strengthen its presence in the cryptocurrency market by listing new assets and expanding the development team.
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