Robinhood Markets Inc., the popular stock trading app, filed proceedings with the Securities and Exchange Commission for what is sure to be one of the most anticipated initial public offerings of the year.
Robinhood announced the presentation, which it made confidentially, in a statement Tuesday. As usual, the company did not disclose any of the details in the presentation.
A pioneer in easy trading and no commissions, Robinhood is expected to make a IPO soon. The presentation, which a person familiar with the matter said was made on Monday, puts the company on track to begin trading publicly in the late second quarter, a schedule that was exposed to investors looking for a quick infusion of capital earlier this year.
The eight-year-old company was forced to pursue funds when an increase in activity on its platform, driven by the fierce buying of so-called meme stocks like GameStop Corp., caused the exchange center to manages Robinhood operations required billions to go up. to cover possible losses.
Robinhood eventually raised $ 3.4 billion, mostly from existing investors. An IPO would allow the company to raise additional capital to serve as an additional cushion and grow funds.