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Redfin CEO Glenn Kelman. (GeekWire Photo / Kaitlyn Wang)

Redfin is looking to raise up to $239 million through a combination of debt and stock offerings, according to a filing with the U.S. Securities and Exchange Commission Monday.

In the filing, the company didn’t go into great detail on why it is seeking the cash infusion and said management has broad discretion in how it uses the funds. Redfin noted the money would be used for “working capital and other general corporate purposes, including technology and development and marketing activities, general and administrative matters, and capital expenditures.” The company went on to say it could use the funds to invest in or acquire other companies or services, though it has no plans to do so at the moment.

In two separate offerings, Redfin is selling 4.025 million shares of stock at a price of $23.69, totaling $95,332,125. It is also offering $143.75 million in “convertible senior notes,” which are debt securities that can later be converted into company shares.

After climbing 2 percent for the day, Redfin shares have dropped close to 5 percent in after-hours trading.

Redfin representatives did not immediately respond to request for comment.

Redfin went public last year, raising $138.5 million in the process. Its stock spiked 45 percent in the first day of trading to close at $21.70. After hitting a high of around $31 at the end of last year, Redfin stock has sat mostly in the low to mid $20 range.

Today’s filing gives insight into other key financials for Redfin. For the most recent quarter Redfin expects to report between $142.1 million and $142.5 million in revenue, with net income of $3.2 million.

Redfin is committing further to its new service of buying and selling homes directly from and to the consumer, the filing shows. Last quarter, the company said it planned to raise the amount of home value on its books at any one time through the Redfin Now program from $10 million to $25 million. In the latest filing, the company said it will bump the limit up to $35 million. From the first quarter of 2017 through the end of June, Redfin Now has been responsible for $22.5 million in revenue.

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