At the top of that range, Reddit, whose users helped create the meme stock frenzy of 2021, would have a market value of US$5.4 billion, based on an expected 158.98 million shares outstanding. Fully diluted to include employee stock options and restricted share units, its valuation would be about US$6.4 billion, the filing with the US Securities and Exchange Commission shows.
Reddit Inc disclosed further details of what is set to be one of the year’s biggest initial public offerings, with the company and some existing shareholders seeking to raise as much as US$748 million.
Reddit and the holders are planning to sell 22 million shares for US$31 to US$34 each, the social media platform said in a filing Monday. About 15.3 million those shares will be sold by the company and the rest by the investors, who are Reddit employees.
