7 Things to Know About the Upcoming $1.6 Billion IPO for Bitcoin Miner Rhodium Enterprises, Inc. (RHDM)

January 13, 2022 4:58 PM EST

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Rhodium Enterprises, Inc. (NASDAQ: RHDM) is set to launch its U.S. IPO next week. The IPO will be available on the Robinhood IPO Acess platform, in addition to other brokerages. Rhodium Enterprises, Inc. is an industrial-scale digital asset technology company utilizing its proprietary technologies to mine bitcoin. Below are 7 important facts to focus on into the IPO:

1. Rhodium Enterprises, Inc. IPO Timing: Rhodium Enterprises, Inc. is expected to have its IPO on the NASDAQ on Jan 20, 2022. The stock ticker is 'RHDM'. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.

2. Rhodium Enterprises, Inc. IPO Price: The company anticipates the initial public offering price to be between $12.00 and $14.00 per share.

3. Shares Offered: The company is offering 7,692,307 shares of Class A common stock, granting the underwriters a 30-day option to purchase up to an aggregate of 1,153,846 additional shares. There will be 56,839,846 shares (or 57,993,692 shares, if the underwriters exercise in full their option to purchase additional shares) of Class A common stock and 67,500,411 shares of Class B common stock after giving effect to the Reverse Stock Split.

4. Rhodium Enterprises, Inc. IPO Valuation: A pricing at the midpoint of the range would value the company at around $1.6 billion.

5. IPO Underwriters: B. Riley Securities, Cowen are acting as bookrunners, Needham & Company as a lead manager, and D.A. Davidson & Co., Northland Capital Markets as co-managers for the offering.

6. Important Rhodium Enterprises, Inc. Financials: The company generated revenue, net income and Adjusted EBITDA of $82.1 million, $46.2 million and $74.4 million, respectively, during the nine months ended September 30, 2021.

7. Rhodium Enterprises, Inc. Total Addressable Market (TAM): As of September 30, 2021, the overall market capitalization of bitcoin has increased by 315% since September 30, 2020, to $828 billion.



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Needham & Company, B. Riley, D.A. Davidson, Cowen & Co, IPO, Bitcoin