Robinhood says SEC reviewing share sale filing
September 1, 2021
(Reuters) – Online brokerage Robinhood Markets Inc said on Wednesday the U.S. Securities and Exchange Commission was reviewing a filing of share sale by a group of its shareholders.
Shares of the newly public company had taken a hit in early August after it said early investors may sell nearly 98 million shares, noting that the company will not receive any of the proceeds.
Robinhood said it submitted an amended resale filing on Wednesday, adding that no sales can be made off the filing until the SEC staff completes their review and declares it effective. https://refini.tv/2WJRrjK
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Saumyadeb Chakrabarty)