Robinhood Ventures Fund II to begin NYSE trading after $200M IPO

Robinhood Ventures Fund II has priced an 8 million-share initial public offering at $25 per share, raising $200 million before fees as Robinhood expands its retail-focused private market fund business. Summary Robinhood Ventures Fund II priced its IPO at $25 per share, offering 8 million common shares to raise $200 million before fees. RVII shares are expected to begin trading on the New York Stock Exchange under the ticker RVII. The fund could reach $255.5 million in size if underwriters fully exercise their option to purchase another 1.2 million shares. RVII will give retail investors exposure to a portfolio of private companies through a publicly traded business development company. According to a press release from Robinhood Ventures Fund II, the offering values the fund at $225.5 million before sales load and offering expenses, with the total potentially reaching $255.5 million if underwriters fully exercise an option covering another 1.2 million common shares. Shares of the fund are expected to begin trading on the New York Stock Exchange on Aug. 13 under the ticker RVII. Subject to customary closing conditions, the offering is scheduled to close on Friday. Underwriters have ...