Robinhood repurchases 55.3M shares from USMS for $605.7M

Robinhood Markets, Inc.

Purchased 55,273,469 shares of Class A common stock at ~$10.96 per share from US Marshal Service.
Aggregate purchase price of $605,694,411.59 funded from corporate cash on hand.
Shares were originally acquired by Emergent Fidelity Technologies, seized, and transferred to US custody.
Transaction closed on August 31, 2023; approved by US District Court for SDNY.
Board authorized pursuit of purchasing most or all of these shares, announced Feb 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Robinhood Markets, Inc. entered into Share Purchase Agreement with United States Marshal Service valued at $605,694,411.59 for 55,273,469 shares (effective 2023-08-30).

Action: entry
Agreement: asset purchase
Counterparty: United States Marshal Service
Value: $605,694,411.59 for 55,273,469 shares
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, Robinhood Markets, Inc. (the “Company”) entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with the United States Marshal Service (the "USMS"), for and on behalf of the United States, pursuant to which the Company agreed to purchase 55,273,469 shares of the Company's Class A common stock (the "Shares") from the USMS.

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Robinhood Markets, Inc. filing history →

Source: SEC EDGAR

accession 0001783879-23-000201

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