US-based Bitcoin miner Rhodium Enterprises is going public with a $1.7 billion valuation.
Rhodium Enterprises, Inc. today announced it has launched an IPO of 7,692,307 shares of its Class A common stock at an anticipated initial offering price between $12.00 and $14.00 per share pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”).
Rhodium Enterprises, Inc. is an industrial-scale digital asset technology company utilizing its proprietary technologies to mine bitcoin.
In addition, Rhodium intends to grant the underwriters a 30-day option to purchase up to an additional 1,153,846 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.
Rhodium intends to list on the Nasdaq Global Select Market under the ticker symbol “RHDM”.
B. Riley Securities and Cowen are acting as joint book-running managers, Needham & Company is acting as lead manager, and D.A. Davidson & Co. and Northland Capital Markets are acting as co-managers for the offering.
