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Well, they are using a sort of auction structure, just not a pure one. The "pop" is by design to signal a successful offering. The criticism of "leaving money o
by pbreit 11y ago
Well, they are using a sort of auction structure, just not a pure one. The "pop" is by design to signal a successful offering. The criticism of "leaving money on the table" is bogus. You want to set yourself up for a secondary where you'll raise most of your money.
- mikeash 11y agoThat's an interesting way to look at it. How common are secondary offerings? I had the impression that they were pretty rare, but I can't think of where I got that idea.