Robinhood IPO Priced at Lower End of Range, Valued at $32B

Robinhood IPO Priced at Lower End of Range, Valued at $32B

Robinhood Markets, the parent company of the popular Robinhood trading app, priced its initial public offering at the lower end of its estimated range and is set to make its market debut on the Nasdaq exchange on Thursday.

Robinhood has priced its offering at $38 per share, according to a press release on Wednesday,

The pricing is at the lower end of the $38-$42 per share price range the company had targeted. It had planned on selling 5.5 million shares to raise $1.89 billion.