{"id":46875,"date":"2021-07-29T09:59:34","date_gmt":"2021-07-29T06:59:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46875"},"modified":"2025-09-01T18:36:52","modified_gmt":"2025-09-01T15:36:52","slug":"robinhood-sets-ipo-share-price-at-38","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhood-sets-ipo-share-price-at-38\/","title":{"rendered":"Robinhood Sets IPO Share Price at $38"},"content":{"rendered":"

The crypto-friendly platform Robinhood set<\/a> the initial public offering price at $38 per share. The offering will raise $1.89 billion, valuing the company at about $32 billion.<\/p>\n

Trading of the shares is expected to begin on Thursday, July 29, 2021, on Nasdaq under the ticker HOOD<\/a>.<\/p>\n

The IPO will consist of 55 million Class A common shares, of which 52.375 million are owned by Robinhood and 2.625 million by existing investors. The offering is expected to close on August 2.<\/p>\n

Underwriters will have a 30-day option to purchase up to an additional 5.5 million shares at the IPO price.<\/p>\n

Goldman Sachs and JPMorgan are acting as joint lead underwriters for the stock offering. Barclays, Citigroup and Wells Fargo Securities are also bookrunners for the platform’s IPO.<\/p>\n

\n

\u201cRobinhood plans to use the net proceeds to strengthen working capital, fund capital expenditures, finance expected tax obligations related to stock-based compensation, and for general corporate purposes, including hiring new personnel, expanding customer-support operations, and meeting general capital needs,\u201d the statement said.<\/p>\n<\/blockquote>\n

During the run-up to the IPO, Robinhood chief Vlad Tenev called cryptocurrencies the linchpin<\/a> of the company’s future development.<\/p>\n

In the first three months of the year, the number of users of the company’s mobile app for trading digital assets rose from 1.7 million to 9.5 million<\/a>.<\/p>\n

In March, Tenev announced the addition of a crypto wallet. According to outlets, the move will provide access<\/a> to assets and DeFi services.<\/p>\n

In May, Chief Operating Officer Christine Brown, who heads the company’s cryptocurrency division, said the app would offer the ability to withdraw<\/a> digital assets to external wallets.<\/p>\n

Earlier reports said Robinhood delayed<\/a> a planned June listing as it studied the SEC<\/span> cryptocurrency business.<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto-friendly platform Robinhood set the IPO price at $38 per share. The offering will raise $1.89 billion, valuing the company at about $32 billion.<\/p>\n","protected":false},"author":1,"featured_media":46876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[768,1234,1211],"class_list":["post-46875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nasdaq","tag-robinhood","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46875"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46875\/revisions"}],"predecessor-version":[{"id":46877,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46875\/revisions\/46877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46876"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}