Reddit has announced the pricing of its initial public offering of 22 million shares of its Class A common stock. Of these shares, 15.3 million are being sold by Reddit, while certain selling stockholders will sell the remaining 6.7 million. The online forum platform previously announced its IPO date in January.
The public offering price is $34 per share, and Reddit will not receive any proceeds from the shares its selling stockholders sell. The shares are expected to begin trading on the New York Stock Exchange on March 21 under the ticker symbol “RDDT,” and the offering is set to close on March 25.
Reddit is a community-based platform where users can engage in discussions, share content and vote on topics of interest. It hosts a wide range of communities, known as subreddits, covering various subjects, making it one of the largest sources of information and open conversations on the internet.
