Reddit 22M share initial public offering prices at $34 per share

Reddit announced the pricing of its initial public offering of an aggregate 22M shares of its Class A common stock, 15.28M of which are being sold by Reddit and 6.72M of which are being sold by certain selling stockholders, at a public offering price of $34 per share. Reddit will not receive any proceeds from any sale of shares by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on March 21 under the ticker symbol “RDDT.” The offering is expected to close on March 25, subject to customary closing conditions. Morgan Stanley & Co., Goldman Sachs & Co., J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. Citigroup, Deutsche Bank Securities, and MUFG are acting as joint book-running managers. Citizens JMP, Needham & Company, Piper Sandler, Raymond James, Academy Securities, Loop Capital Markets, Ramirez & Co., and Telsey Advisory Group are acting as co-managers.