Roblox, an online platform where users can develop and play video games, is expected to begin trading on the NYSE on Wednesday, March 10, 2021, according to an amendment filed with the SEC on Monday. In its latest filing, the company also disclosed financials for the year ended December 31, 2020, and added BofA Securities as a financial advisor.
Like other direct listings, the company will host an "investor day" presentation and additional investor meetings; Roblox's presentation will be accessible on February 26 at 11am ET.
The Registered Stockholders plan to sell up to 199 million Class A shares. In January 2021, roughly 12 million shares were sold in a Series H round at $45 per share. If the company listed its shares at $45, Roblox would command a fully diluted market value of $29.1 billion.
The company is building a human co-experience gaming platform that enables shared experiences among millions of online users worldwide. The Roblox human co-experience platform consists of the Roblox Client, the Roblox Studio, and the Roblox Cloud, which together allow for the interactive creation and exploration of 3D digital worlds, games, and experiences.
Roblox was founded in 2004 and booked $924 million in sales for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol RBLX. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Goldman Sachs, Morgan Stanley, and BofA Securities will serve as financial advisors.
