Roblox Impostor Credits The clock is ticking for initial public offerings in 2020 and Roblox made the deadline. In an after-hours move the free-to-play games specialist filed its form S-1 with the U.S. Securities and Exchange Commission. Many investors are already excited about this news. But what do you need to know about the Roblox IPO?
Roblox IPO: The gaming company intends to list its shares on the New York Stock Exchange under the symbol "RBLX." The number of share issues and expected proceeds from the listing is still uncertain.
Roblox’s authorized share capital consists of two classes of shares. Roblox Impostor Money Class A common stockholders are entitled to one vote per share. Whereas Class B shareholders are entitled to 20 votes per share with an option to convert into Class A.
The game industry is one of the few economic sectors that is doing well during the pandemic. Game engine maker Unity raised $1.3 billion at a $13.6 billion valuation in an IPO on September 18 even though it is losing money. Unity’s shares are up more than 60% since trading began.
The listing by Roblox will push IPOs even further past previous records. So far this year an all-time high of more than $144 billion has been raised on U.S. exchanges according to data compiled by Bloomberg. Airbnb Inc. DoorDash Inc. and Affirm Inc. filed this month to go public and are expected to add billions of dollars to that total.
Free cash flow from January to September 2020 was $292.6 million.
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