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Redfin sets pricing for planned IPO

The online real estate brokerage Redfin announced the terms for its IPO, with shares expected to go on sale later this month or early August. Redfin plans to sell 9.23 million shares in the $12 to $14 per share range, according to its filing with the SEC.

“In that range, Redfin’s offering would give the company a market cap between $1 billion and $1.2 billion and raise between $111 million and $129 million in proceeds for the company,” Kevin Kelleher at Venture Beat writes. “If Redfin’s underwriters exercise the over-allotment option, the offering could raise about $149 million.”

The money will be used for technology development, market and other corporate purposes, as well as potentially to acquire or invest in other companies.

Redfin sets pricing for planned IPO was originally published on Chicago Agent Magazine – For the well-informed real estate professional, the leading source for news and perspective for real estate professionals in the Chicagoland area.

Source: Chicago Agent Magazine

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