Redfin is inching closer to its proposed initial public offering, with the so-called “technology-powered residential real estate brokerage” setting terms for its debut on the NASDAQ stock exchange.
In a filing with the SEC released today, Seattle-based Redfin said it plans to sell 9.23 million shares in the $12 to $14 per share range. That means Redfin would have a $1.35 fully-diluted market value if it were to price at the mid-point of the range, reports Pro Rata.
Redfin, which grew market share in 81 of 84 of its markets, estimates that it will raise $107.8 million from the public offering of stock based on a $13 per share offering price. It said it plans to use money from the stock sale for technology development, marketing and other corporate purposes, and noted that…