Robinhood disclosed the expected price range for its initial public offering on Monday, putting the popular stock-trading app one step closer to itself trading on the markets.
In an updated prospectus, Robinhood said it planned to sell shares at $38 to $42 each. At the midpoint of that range, it would raise $2.2 billion and be valued at about $33 billion; at the high end, it would be worth about $35 billion.
The announcement will formally kick off the final part of Robinhood’s long road to going public: a roadshow where the company will pitch prospective investors on itself. It is set to begin trading on the Nasdaq market by the end of next week.
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