Redfin expected to go public next week in 1st Seattle-area tech IPO of 2017 – GeekWire

(Redfin Photo)

Redfin is expected to go public Friday, July 28, according to Nasdaq. 

The Seattle-based company, which describes itself as a “technology-powered residential real estate brokerage,” said in an SEC filing earlier this week that it plans to sell 9.23 million shares in the $12 to $14 per share range. Nasdaq pegs the total offering amount at $148.6 million.

Redfin has said it plans to use money from the stock sale for technology development, marketing and other corporate purposes, and noted that it could use the additional capital to acquire or invest in other companies.

As GeekWire reported last week, Redfin is very much looking to position itself as a tech-oriented company rather a real estate company, part of a plan to command a higher valuation at the time of its IPO. It would mark the first IPO from a Washington state technology company so far this year.

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