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16-12-2021|Business

Reddit Submits a Draft Registration Statement for a Proposed Initial Public Offering (IPO) in a Confidential Way.

Reddit stated on Twitter that it had submitted a confidential draught registration statement to the Securities and Exchange Commission (SEC) for a proposed initial public offering of its common stock.

  • The number of shares to be offered and the price range for the proposed offering have yet to be determined, the announcement said.
  • Subject to market conditions, the IPO is expected to take place when the SEC completes its review process.
  • Reddit is in a "quiet period" and is unable to provide any information due to regulatory restrictions, the announcement said.
  • In January, the social media network announced that it was expanding its collaboration with the Ethereum Foundation to provide scaling tool development resources. Reddit employee u/jarins said the decision strengthens the company's commitment to the platform and echoes its long-held "decentralised ethos" in a post to the Ethereum subreddit.
  • In a disclaimer, Reddit stated that the announcement on Wednesday does not constitute an offer to sell or a solicitation to acquire any securities.

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