Reddit plans to offer IPO shares to 75,000 active users, allowing them to buy shares at the IPO price before trading begins.
Reddit plans to offer a portion of its IPO shares to its most active users, reserving an undetermined number of shares for 75,000 "redditor" accounts when it goes public next month. This opportunity allows users to buy shares at the IPO price before trading begins, a privilege typically reserved for major investors. Reddit confidentially filed with US regulators for the IPO in December and aims to sell about 10% of its shares, seeking a valuation of at least $5 billion. The IPO is expected to be completed by the end of March.
February 21, 2024
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