Rhodium Enterprises IPO: How to buy pre-IPO RHDM stock?

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Rhodium Enterprises IPO: How to buy pre-IPO RHDM stock?

Rhodium Enterprises IPO
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Highlights:
  • The Bitcoin miner plans to go public next week on Nasdaq and trade under the stock symbol RHDM.
  • Rhodium Enterprises could hit a value of approximately US$ 1.7 billion.
  • Rhodium Enterprises is a miner of the world's oldest cryptocurrency- Bitcoin, and it aims to sell around 7.7 million shares.

Delaware-based Rhodium Enterprises announced terms for its initial public offering (IPO) on Thursday, January 13, and hopes to go public next week in the US equities market.

Rhodium Enterprises is a miner of the world's oldest cryptocurrency- Bitcoin, and it aims to sell around 7.7 million shares through its IPO.

The price range of the Rhodium Enterprises stock is between US$ 12 to US$ 14 per share, and the underwriting responsibility is on Cowen and B. Riley Securities.

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If the shares are sold at US$ 14 apiece, Rhodium Enterprises could hit a value of approximately US$ 1.7 billion.

How to buy Rhodium Enterprises (RHDM) stock?

The Bitcoin miner plans to go public next week on Nasdaq and trade under the stock symbol RHDM.

Potential investors have started looking for the RHDM stock. However, they will have to wait until the company goes public.

Rhodium Enterprises IPO                                                                                                          ©2022 Kalkine Media® 

It is not confirmed if Rhodium Enterprises will offer pre-IPO stock to retail investors. However, the pre-IPO RHDM stock could reportedly be available on the IPO Access platform of Robinhood and other brokerage companies.

Retail investors often prefer buying pre-IPO stocks are there is a chance that stock price increases after the company starts trading in a stock market.

It is important to note that sometimes the price decreases after the IPO if it fails to get investors' attention.

Bottom line

Rhodium Enterprises started crypto mining operations in September 2020, and its site in Texas has around 125MW of power capacity to support 33,600 miners.

The company is looking to expand and is working on building a second site in Texas, and it will reportedly support 65,200 miners through its 225MW power capacity.

As of September 30, 2021, Rhodium Enterprises reported a profit of US$ 46.1 million and revenue of US$ 82.1 million.

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