According to a new filing with the US Securities and Exchange Commission, the company and existing shareholders will sell about 15.7 million shares for Dollars 12-14 per share.More news: Giffgaff announces prices for Samsung Galaxy Note 8
Roku now intends to raise as much as $252 million via an IPO that aims to offer about 18.01 million shares for $12 to $14 each, according to an amended S-1 filed Monday. The new price range could push the company's valuation up to Dollars 1 billion, Bloomberg noted. Similarly, Apple is reportedly set to invest $1 billion in original content in 2018.More news: United Kingdom lowers official terrorist threat level after second arrest
The company has raised over $200 million in funding since 2008. Wood, who previously invented one of the first digital video recorders, owns a 28 percent stake in Roku and Menlo Ventures has a 35 percent stake. No fewer than 6 million of those shares are being sold by the single largest current Roku shareholder, Menlo Ventures, although that shareholder will retain 30 percent of the voting shares after the public offering is finalized. Net loss during those first six months was $24.2 million. It competes with Apple TV, Chromecast and other devices. In 2016, the company notched $399 million in revenue and lost $43 million. Roku has benefited from a growing number of cord-cutting cable subscribers ditching pay television in lieu of "over-the-top" streaming services like Netflix and Hulu. Leading the public offering are Citigroup Inc. and Morgan Stanley and, once the SEC approves the public offering, Roku will be listed as ROKU on the Nasdaq Global Select Market.More news: Billy Bush and wife, Sydney, announce divorce
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