- Advance will offer 7.8 million shares at $145.38-148.54/pc. - This deal could bring Advance itself about $1.2 bln - This range implies a discount of 8% off the closing price - Yesterday, Reddit shares closed at $158.02/pc. - Advance is one of Reddit's largest shareholders - In doing so, Advance is purchasing derivatives on its shares - It will be able to maintain its stake and create a line of credit. - On the back of such news, Reddit shares fell in price by 7.9% - In total, the shares of Reddit after the IPO rose by 300% - Earlier, 655 thousand shares for $88.5 million also sold Tencent