WASHINGTON (dpa-AFX) - Robinhood Ventures Fund I (RVI) announced the launch of the roadshow for its initial public offering of common shares of beneficial interest.
The fund has filed a registration statement with the U.S. Securities and Exchange Commission to offer 40 million shares at an expected IPO price of $25 per share. The offering includes 35 million shares to be issued by the fund and 5 million shares to be sold by Robinhood Markets Inc., the selling shareholder.
RVI also plans to grant the underwriter a 30-day option to purchase up to an additional 6 million shares. The fund will not receive proceeds from shares sold by the selling shareholder.
The shares are expected to list on the New York Stock Exchange under the ticker symbol 'RVI.'
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