Rhodium Enterprises (RHDM)

Rhodium Enterprises (RHDM)

IPO Stage

Building Bitcoin with Innovation, Sustainability, and Integrity

Building Bitcoin with Innovation, Sustainability, and Integrity

Overview

Funding data not publicly available
Stage

IPO Stage

Platform

Robinhood

IPO Date

Not Provided

Method of Going Public

IPO

Expected Public Exchange

Nasdaq

Price Range

$12 - $14

Security Type

Equity - Common

Series

Series D

SEC Filing Type

S-1    Open SEC Filing

IPO Valuation

$1.6B

IPO Lead Underwriter

B. Riley Securities, Cowen

# of Acquisitions

0

Year Founded

2021

Industry

Business Services, Software, & Applications

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

High

Location

Rockdale, Texas

Business Type

Growth

Rhodium Enterprises, with an approximate market capitalization of approximately $1.6 billion, will go public in the near future. Rhodium is a bitcoin miner supposedly using innovative technology to mine bitcoin more sustainably and more cost-efficiently than other miners. The company's four founders set out to make bitcoin mining a more sustainable practice. The company will trader under the ticker "RHDM" on the Nasdaq with Rhodium offering over 7 million shares between $12 and $14.

Income Statement

Revenue

$82,097,000

Operating Expenses

Research/Technology & Development

$0

Sales & Marketing

$8,119,000

General & Administrative

$0

Total Operating Expenses

$58,482,000

Operating Income

$23,615,000

Other Income, Net

$35,870,000

Income (Loss) Before Provision For (Benefit From) Income Taxes

$59,485,000

Provision For (Benefit From) Income Taxes

$13,337,000

Net Income (Loss)

$46,148,000

 

Net Income (Loss) Attributable to Common Stockholders:

Basic

$0.00

Diluted

$0.00

Net Income (Loss) Per Share Attributable to Common Stockholders:

Basic

$0.10

Diluted

$0.10

Weighted-Average Shares of Common Stock Used For Pro Forma:

Basic

110,593,401

Diluted

110,593,401

Balance Sheet - Assets

Current Assets

Cash and Cash Equivalents

$103,799,000

Accounts Receivable

$16,000

Total Current Assets

$166,155,000

Property and Equipment, Net

$88,337,000

Goodwill

$0

Intangible Assets, Net

$0

Restricted Cash

$0

Other Assets

$105,979,000

Total Assets

$272,134,000

Balance Sheet - Liabilities

Current Liabilities

Accounts Payable

$1,582,000

Accrued Expenses

$1,322,000

Other Current Liabilities

$1,476,000

Total Current Liabilities

$47,470,000

Total Liabilities

$189,148,000

Commitments and Contingencies

Convertible Preferred Stock

$0

Stockholders' (deficit) Equity

Common Stock

$11,000

Additional Paid In Capital

$0

Accumulated Other Comprehensive Income (Loss)

$0

Total Stockholders' (Deficit) Equity

$82,986,000

Statements of Cash Flows

Cash Flows from Operating Activites

Net Cash Provided By (Used In) Operating Activities

$-23,953,000

Cash Flows from Investing Activites

Net Cash Provided By (Used In) Investing Activities

$-42,613,000

Cash Flows from Financing Activites

Net Cash Provided By (Used In) Financing Activities

$161,306,000

Total Cash, Cash Equivalents, and Restricted Cash

$0

Financials as of: 10/27/2021
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Rhodium Enterprises IPO 2022: A Startup Investor’s Guide
Platform: Robinhood
Security Type: Equity - Common
Valuation: $1,600,000,000

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