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  • Robinhood review
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Home›Robinhood crypto›Robinhood Markets, Inc. files amendment to resale registration statement

Robinhood Markets, Inc. files amendment to resale registration statement

By Tim Kane
September 1, 2021
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MENLO PARK, Calif., September 01, 2021 (GLOBE NEWSWIRE) – As previously announced, Robinhood Markets, Inc. (“Robinhood”) has filed a registration statement on Form S-1 (File # 333-258474) ( the “S-1 Resale”) with the Securities and Exchange Commission (the “SEC”) on August 5, 2021. The S-1 Resale was filed on behalf of certain Robinhood shareholders who received Class A common shares on the automatic conversion of Tranche I convertible notes in connection with Robinhood’s IPO. The S-1 resale records the potential resale of these Class A common shares and was filed pursuant to a pre-existing contractual obligation under the purchase agreement for the Tranche I convertible notes. Robinhood is not itself selling. even additional securities and the deposit does not represent a follow-up offer. On August 13, 2021, SEC staff informed Robinhood that they were reviewing the S-1 resale.

On September 1, 2021, Robinhood filed an amendment to the S-1 resale to, among other things, incorporate the second quarter 2021 financial results into the S-1 resale. Once SEC staff complete their review, Robinhood intends to file an acceleration request asking the SEC to declare the S-1 resale effective two business days later. We plan to make a public announcement when we file this request.

No sale can be made from Resale S-1 until SEC staff have completed their review and declared it effective. At this time, we cannot predict how long this process will take.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. Copies of the prospectus, when available, can be obtained from the SEC’s website at www.sec.gov. These securities cannot be sold and offers to buy cannot be accepted before the entry into force of the registration statement.

About Robinhood

Robinhood Markets’s mission is to democratize finance for all. With Robinhood, people can invest with no minimum account through Robinhood Financial LLC, buy and sell cryptos through Robinhood Crypto LLC, and learn to invest through easy-to-understand educational content. Robinhood aims to create the world’s most trusted and culturally relevant money app.

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