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Advance Magazine Publishers

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Reddit Considers Borrowing Against Social Media Stock Stake

Originally Published 1 year ago — by Investor's Business Daily

Reddit's stock fell over 7% after reports that Advance Magazine Publishers plans to borrow against its Reddit stake by establishing a $1.2 billion credit facility. This move involves selling shares at a price below Reddit's recent closing value. Despite the drop, Reddit's stock has surged 191% since its IPO in March, driven by a surprise profit in Q3. Separately, Tencent Holdings sold $400 million in Reddit stock, reducing its stake by 28%. Advance remains a major shareholder, having acquired Reddit in 2006.

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Reddit Shares Volatile Amid Advance's $1.2B Stake Sale Plan

Originally Published 1 year ago — by Yahoo Finance

Advance Magazine Publishers plans to sell up to $1.2 billion worth of its Reddit shares, causing concern among retail investors about potential price drops. The sale involves 7.8 million shares priced between $145.38 and $148.54, below the current trading price of $158.02. Advance aims to use the shares as collateral for a credit facility while retaining control through derivatives. The impact on Reddit's stock price depends on Advance's ability to meet its loan obligations.

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