Reddit applies for IPO to issue 22 million shares, stock code is RDDT

According to market news on March 11th, Reddit applied for an IPO to issue 22 million shares with an expected price range of $31 to $34 per share. The stock code is RDDT. Reddit stated in its listing application submitted to the SEC that it holds a small amount of cryptocurrency on its balance sheet. Reddit stated that the company will invest some excess cash reserves in Bitcoin and Ethereum, and use Ethereum and Matic as payment methods for selling certain virtual goods, and may continue to do so in the future. As of December 31, 2023, Reddit declared that it does not hold any other digital assets for financial management purposes except for Bitcoin and Ethereum. Reddit also pointed out that because the amount of cryptocurrency held is not sufficient to be listed separately in financial statements, its related activities during the period presented are considered "insignificant".