Robinhood says the SEC is reviewing the presentation of the sale of shares

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The Robinhood Markets, Inc. logo is seen at an emerging event on Wall Street following the company’s IPO in New York City, USA, on July 29, 2021. REUTERS / Andrew Kelly / File Photo

September 1 (Reuters) – Online brokerage Robinhood Markets Inc. (HOOD.O) said Wednesday that the U.S. Securities and Exchange Commission was reviewing the filing of a sale of shares by a group of its shareholders.

The shares of the new public company had been successful in early August after it was said that the first investors could sell about 98 million shares, noting that the company will not receive any of the revenue. Read more

Robinhood said it filed a modified resale filing Wednesday, adding that no sales will be made until SEC staff complete its review and declare it effective. https://refini.tv/2WJRrjK

Reports from Noor Zainab Hussain to Bengaluru; Edited by Saumyadeb Chakrabarty

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