21 March 2024

On March 20th, 2024 company announced that IPO was priced at $34 per Class A common share.

Company offered an aggregate 22 million shares of its Class A common stock, 15.3 million of which are being sold by Reddit and 6.7 of which are being sold by certain selling stockholders.

Reddit will not receive any proceeds from any sale of shares by the selling stockholders.

In addition, Reddit has granted the underwriters a 30-day option to purchase up to an additional 3.3 million shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange on March 21, 2024, under the ticker symbol “RDDT.”

The offering is expected to close on March 25, 2024, subject to customary closing conditions.

Reddit Announces Pricing of Initial Public Offering

Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.