RedCloud Holdings plc (RCT) priced its small-cap IPO at $4.50 – near the low end of its $4.00-t0-$6.00 price range – and sold 4.44 million shares (4,444,445 shares) – to raise about $20.0 million on Thursday night, March 20, 2025. RedCloud Holdings’ stock opened flat at $4.50 at 11:10 a.m. EDT today – Friday, March 21, 2025 – on the NASDAQ on volume of 339,375 shares, according to NASDAQ.
At pricing, RedCloud Holdings had a market cap of about $200.0 million.
Roth Capital Partners and Clear Street served as the active joint book-runners for the IPO. Rosenblatt Securities acted as a passive book-running manager. The Benchmark Company served as the co-manager.
London-based RedCloud Holdings runs the RedCloud platform, a B2B platform that facilitates the trading of fast-moving consumer goods across business supply chains, according to the prospectus.
“We currently operate in Argentina, Brazil, Nigeria and South Africa, which are high consumer growth markets, and (we) plan to expand to additional countries in the future,” RedCloud Holdings plc said in the prospectus.
The company said that its RedCloud Platform “has AI and machine learning capabilities that provide our brands, distributors and retailers with trading and product insights and data to help them make better commercial decisions regarding their business operations. For example, our Platform has the capability to (1) inform retailers when they are running low on products, (2) inform retailers what other retailers in the area in which they operate are selling, and (3) inform brands and distributors the type of goods and products retailers are looking for on the Platform.”
RedCloud Holdings plc is not profitable, according to financial statements in the prospectus. For the 12 months that ended June 30, 2024, RedCloud Holdings plc reported a net loss of $39.99 million on revenue of $29.71 million.
