Roku Files to Raise Up to $100 Million in Stock Sales ‘From Time to Time’

Roku hired Citigroup as its sales agent to raise up to $100 million in public stock offerings “from time to time,” said an 8-K filed Tuesday at the SEC. Roku will use the proceeds from any sale for working capital and general corporate purposes, including “to acquire or invest in businesses, products and technologies that are complementary to our own,” it said. It has “no current commitments or agreements” to do so, it said. Roku isn't obligated to sell any shares, but if it does, it will set the terms, including pricing and limitations “on the number of shares that may be sold in any one trading day,” the company said. Roku went public in October 2017 (see 1710030035).