Reddit mascot rings the opening bell, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024.
Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range.
The offering brought in $519 million, according to a press release, and values the company at close to $6.5 billion.
Reddit had planned to price the deal at $31 to $34 a share.
Reddit sold 15.28 million shares in the offering, while existing shareholders sold another 6.72 million.
Persons:
Reddit
Organizations:
New York Stock Exchange, Reddit
Locations:
New York City, U.S