Todd Spangler NY Digital Editor In what’s poised to be one of the biggest initial public offerings of the year, Reddit disclosed financial details of its forthcoming IPO, through which it’s aiming to raise as much as $748 million.
On Monday, in an update to its S-1 filing with the SEC, Reddit said it will offer 22 million shares, expected to be listed at an IPO price of between $31 and $34 per share.
The offering would give Reddit a top valuation of about $6.4 billion — less than the $10 billion it had been valued at in 2021 after a major round of funding.
Based on the midrange price of $32.50 per share, Reddit said it expects to receive net proceeds from the IPO of about $450.9 million.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.