Finance History | 11 Wall Street — Thirty-Four Dollars for Twenty-Two Million Forum Shares Called RDDT
· 2024-3
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Finance History | 11 Wall Street — Thirty-Four Dollars for Twenty-Two Million Forum Shares Called RDDT
kevin
People treat Reddit as a San Francisco forum company that always printed RDDT after a finished New York book.
The March 2024 issuer was Reddit, Inc., selling Class A common.
A company release dated 20 March 2024 priced 22 million Class A shares at 34 dollars a share in 2024 currency. The company sold 15,276,527 of those shares. Selling stockholders sold 6,723,473. Reddit said it would receive no proceeds from the selling-stockholder slice.
Regular-way trading on the New York Stock Exchange under RDDT began on 21 March 2024. Reuters and CNBC recorded the open at 47 dollars and the close at 50.44 dollars.
The present tape is RDDT on the New York Stock Exchange.
The mechanism is a Class A social-media IPO after a long gap in that category. The public bought the listed class. The offering mixed primary cash to the company with a secondary sale by existing holders.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints RDDT.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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