Robinhood Markets Inc., a popular trading app that recently expanded its cryptocurrency business, has filed paperwork with the United States Securities and Exchange Commission, or SEC, to go public.
The company confirmed Tuesday that it had confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed public offering of its common stock. Form S-1 requires companies to provide more detailed information on the planned use of capital proceeds., as well as a brief prospectus on the proposed security.
While Robinhood didn’t specify when the IPO would take place, it confirmed that a public offering would be pursued “after the SEC contemplates its review process, subject o market and other conditions.”
Speculation about a Robinhood IPO has circulated for months amid news that the company had lined up a team of advisers to guide it through the listing process. In October 2020, CEO and co-founder Vlad Tenev told CNBC that he was “not in a rush” to push a public listing because the company was well funded.
Public opinion of Robinhood soured earlier this year – and may have stalled the IPO process – after the companyTitle: Robinhood files SEC paperwork for public offering
Sourced From: cointelegraph.com/news/robinhood-files-sec-paperwork-for-public-offering
Published Date: Tue, 23 Mar 2021 21:49:14 +0000
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