Robinhood Ventures Fund II launches IPO roadshow on NYSE

Robinhood Ventures Fund II (RVII) has launched a roadshow for an initial public offering of common shares of beneficial interest, according to a press release from Robinhood Markets, Inc. (NASDAQ: HOOD).

RVII has filed a registration statement on Form N-2 with the U.S. Securities and Exchange Commission to offer up to 8,000,000 common shares at an expected price of $25 per share. Of those shares, up to 7,600,000 will be offered by RVII, while up to 400,000 will be sold by Robinhood Markets as the selling shareholder. RVII will not receive proceeds from the shares sold by Robinhood Markets. The window to request IPO shares is expected to close on August 12.

RVII also intends to grant underwriters a 30-day option to purchase up to an additional 1,200,000 common shares at the initial offering price, less underwriting discounts and commissions. The shares are expected to list on the New York Stock Exchange under the ticker symbol RVII.

Goldman Sachs & Co. LLC is serving as lead bookrunner. Citigroup, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are joint bookrunners.

RVII is structured as a newly organized, closed-end, diversified management fund regulated as a business development company. It intends to invest in a concentrated portfolio of early-stage and growth-stage private companies. The fund has limited operating history and does not anticipate paying dividends on a quarterly basis. The registration statement has been filed with the SEC but has not yet become effective.

You May Also Be Interested In

• Werewolf Therapeutics to merge with Ambros in $150M private placement
• Evolution Petroleum closes $16M Midland Basin royalty acquisition
• ESS Tech launches $3.2M stock offering at $0.50 per share