Green Shoe: Robinhood Says Partial Exercise of IPO Over Allotment - NewsBreak

(NASDAQ:HOOD), a Fintech that became a public company last month, has distributed a note indicating that underwriters have exercised a portion of the share over-allotment. The customary practice allows underwriters to purchase more shares at the IPO price. Robinhood states that our of the 5,500,000 shares of Class A common stock over allotment, 4,354,194 shares of Class A common stock were purchased at $38 a share.