If you’re an investor, you may have heard about the upcoming IPO for Rhodium Enterprises. Rhodium produces and mines bitcoins, the decentralized digital currency that is disrupting the monetary systems of countries all over the world. Cryptocurrency has gained lots of traction in recent years, but isn’t without its risks. Here are some quick facts about this company to help you decide whether or not to invest in it.
Rhodium Enterprises, Inc. (NASDAQ: RHDM) is set to launch its U.S. IPO next week. The IPO will be available on the Robinhood IPO Acess platform, in addition to other brokerages. Rhodium Enterprises, Inc. produces industrial-scale digital assets utilizing its proprietary technology to mine bitcoin. The following are seven key facts to keep in mind:
1. Rhodium Enterprises, Inc. IPO Timing: Rhodium Enterprises, Inc.’s IPO on the NASDAQ is scheduled for January 20, 2022. ‘RHDM’ will serve as the stock’s ticker. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.
2. Rhodium Enterprises, Inc. IPO Price: The company expects its initial public offering price to range between $12.00 and $14.00 per share.
3. Shares Offered: The company is offering 7,692,307 shares of Class A common stock, with an option for underwriters to purchase up to 1,153,846 more shares within 30 days. Following the reverse stock split, 56,839,846 shares (or 57,993,692 shares, if the underwriters exercise their option to purchase additional shares in full) of Class A common stock will be issued and 67,500,411 shares of Class B common stock will be issued.
4. Rhodium Enterprises, Inc. IPO Valuation: At the midpoint of the pricing range, Rhodium Enterprises, Inc. would be valued at $1.6 billion.
6. Important Rhodium Enterprises, Inc. Financials: Revenue, net income, and Adjusted EBITDA for Rhodium Enterprises, Inc. for the nine months ended September 30, 2021 were $82.1 million, $46.2 million, and $74.4 million, respectively.
7. Rhodium Enterprises, Inc. Total Addressable Market (TAM): Bitcoin had a market capitalization of $828 billion as of September 30, 2021, up 315% since September 30, 2020.
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