Robinhood Fund II outlines $4.2M offering costs
Robinhood Ventures Fund II (RVII) filed Pre-Effective Amendment No. 3 to its Form N-2 registration statement.
Rhea-AI Filing Summary
Robinhood Ventures Fund II (RVII) filed Pre-Effective Amendment No. 3 to its Form N-2 registration statement. The amendment is described as being filed solely to add Exhibit (l), an opinion and consent of Delaware counsel, and to update information on FINRA filing fees, while otherwise incorporating earlier Parts A and B by reference.
The fund lists estimated offering and organizational expenses totaling $4,236,617, including $3,146,342 of legal fees, $150,000 of accounting fees, and $325,000 of exchange listing fees. Immediately prior to the offering, Robinhood Markets, Inc. will directly own 87.27% and beneficially own 100% of the fund’s outstanding common shares. After completion of the offering, Robinhood’s direct ownership is expected to fall to approximately 5%–7%, with beneficial ownership of approximately 6%–8%, reflecting a transition from full control to a minority position.
The fund undertakes to suspend sales of common shares if its net asset value declines more than 10% from the value at effectiveness or rises above net proceeds as stated in the prospectus, and confirms standard Securities Act indemnification and prospectus-delivery undertakings.
Positive
- None.
Negative
- None.
Filing Explained
The filing remains pre-effective: the proposed public offering may begin only after registration becomes effective, so the disclosed shift in Robinhood’s ownership remains a completion-dependent consequence rather than a completed change.
Key Figures
Key Terms
Pre-Effective Amendment regulatory
beneficially own financial
Dividend Reinvestment Plan financial
Investment Advisory Agreement financial
Registration Rights Agreement regulatory
Inline XBRL technical
Offering Details
FAQ
What is the purpose of Robinhood Ventures Fund II (RVII)’s Pre-Effective Amendment No. 3?
How much in offering expenses does RVII estimate in this N-2/A filing?
What ownership stake will Robinhood Markets, Inc. hold in RVII before and after the offering?
Who serves as investment adviser and key service providers to Robinhood Ventures Fund II (RVII)?
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