RVII prices at $25; Robinhood's IPO window is already closed (2026)

Thursday, August 13 is a normal NYSE and Nasdaq trading day. The headline for retail investors is RVII: Robinhood Ventures Fund II priced at $25 and is expected to start trading today, but its Robinhood IPO request window already closed yesterday. 1

Today's spotlight: Robinhood Ventures Fund II (RVII)

Status: Priced at $25 per share. RVII is expected to begin trading on the NYSE today, August 13. The offering is expected to close Friday, August 14, subject to customary conditions. 2

Business in one sentence: RVII is a business development company, or BDC, that gives public-market investors exposure to a portfolio of early-stage private companies. In plain English, it is a listed fund for venture-style investments rather than a single operating company. 3

Why retail investors care: Robinhood says the fund held 80 private companies at launch and focuses on companies connected to the Y Combinator startup accelerator. The structure gives retail investors a way to buy a listed security tied to private-company investing, a market that is usually difficult to access directly. 3

The number to watch: The IPO covers 8 million shares at $25, while the fund's stated total size is $225.5 million before sales load and offering expenses. Underwriters can buy up to another 1.2 million shares within 30 days, which could lift the stated fund size to $255.5 million. 2

Risk to monitor: This is a fund with private-market valuation and liquidity risk, not a normal basket of publicly priced stocks. Robinhood's disclosure says the investment is speculative, may trade above or below net asset value, and may not develop an active market. The first checkpoint is the gap between RVII's market price and the value assigned to its private holdings after trading begins. 3

Minimum buy-in and access: Robinhood's launch announcement said there was no investment minimum and that Robinhood Financial customers could request shares through Robinhood. It also said the request window was expected to close on August 12. That means today's app availability, if any, is secondary-market trading—not a verified chance to receive IPO shares at $25. 3

Actionable now

No US IPO allocation met all four checks for this edition: public offer terms, a live deadline, a minimum buy-in, and a verified mainstream-broker path. RVII had the clearest retail route, but its request deadline has passed. The public calendar also lists other August events, but calendar visibility is not proof of a broker allocation. 4

Ticker	Price range	Minimum buy-in	Deadline	Verified brokers	Status
None verified	—	Not disclosed	No live public allocation window found	None publicly verified	Watch only

Market pulse

Biotech deals are still getting larger when demand is selective. BioSpace reported that BlossomHill increased its offering from 7.8 million to nearly 9.4 million shares and raised about $150 million, up from an original target of $129.1 million. Latigo raised about $345.6 million, above its earlier $285.2 million target. Those are issuer-specific demand signals, not a guarantee for the next biotech listing. 5
Defense technology remains a live IPO theme. Lyntris is marketing 24 million shares at $19-$22, with a reported backlog of $923.9 million as of June 30. Reuters also reported a six-month net loss of $13 million on $241 million of revenue. The retail read is straightforward: backlog supports the growth story, while losses make execution and profitability the test. 6

HK desk

No Hong Kong public subscription is verified as open today or closing by Saturday, August 15. The HKEX title-search route returned no matching records, and the accessible HKEX page is a newly listed-securities page rather than a live public-offer table. ET Net's IPO entry was unavailable. The result is no verified action, not a claim that no Hong Kong issuer has a timetable. 7 8

On the radar: August 14-26

The public calendar gives expected trading dates, but it does not provide a separate pricing date for these entries. Where pricing is not disclosed, it is marked that way rather than inferred.

Deal	Pricing date	Expected listing	Terms	Why watch
NorthStrive Acquisition I (NSAIU)	Not disclosed	Aug. 14	10M units at $10	A near-term SPAC unit event; watch the terms and any later business-combination announcement, not just the first-day ticker move. 4
Southern Cross Acquisition II (SCATU)	Not disclosed	Week of Aug. 17	10M units at $10	Another short-dated SPAC calendar entry; its eventual target will matter more than the initial unit listing. 4
Lyntris (LYNX)	Not disclosed	Aug. 19, NYSE	24M shares at $19-$22; $492M at the top of the range	The largest dated traditional-company deal on the reviewed calendar, with defense exposure and a large backlog but no reported profit. 4 6
Riku Dining Group (RIKU)	Not disclosed	Week of Aug. 24	5M shares at $4-$6	A small consumer listing to watch for terms and retail visibility; the calendar does not verify broker access. 4
Web3Labs Global (MDAT)	Not disclosed	Week of Aug. 24	6.3M shares at $4-$5	A Hong Kong-linked issuer on a U.S. calendar; cross-border structure and final terms are the items to verify. 4

Market information only, not investment advice. IPO terms, dates, access and listing plans can change before a final prospectus, pricing or exchange debut.