Robinhood Markets Inc., the popular securities trading app, filed papers with the Securities and Exchange Commission for what is sure to be one of the most anticipated initial public offerings of the year.
Robinhood announced the deposit, which he made confidentially, in a statement Tuesday. As usual, the company did not disclose any of the details of the lawsuit.
A pioneer in easy, commission-free negotiations, Robinhood is widely expected to stage an IPO soon. The order, which a person familiar with the matter said was made on Monday, puts the company on track to begin public trading at the end of the second quarter, a timeline that outlined investors by seeking a quick injection of capital early on. this year.
The eight-year-old company was forced to seek funds when a wave of activity on its platform – driven by the fierce purchase of stocks called memes such as GameStop Corp – caused the clearinghouse that handles Robinhood’s negotiations to demand that it put billions to cover potential losses.
Robinhood ended up raising $ 3.4 billion, mainly from existing investors. An IPO would allow the company to raise additional capital to serve as an additional cushion and fund growth.