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Yes, but not substantially. They raised a little under $300 million. Even if all of the money raised had a (high) 2x liquidity preference, that still leaves $3.
by argonaut 10y ago
Yes, but not substantially. They raised a little under $300 million. Even if all of the money raised had a (high) 2x liquidity preference, that still leaves $3.1B to be distributed among the stock holders.
- jakozaur 10y agoIt depends on termsheet, but in most cases liquidation preference only hits when final price is low. Otherwise investors will pick the percentage.
- atishd 10y agoIn fact in this case late stage investors had a contractual right to buy shares at IPO signaling strength of company. Don't feel took naff for they investors though :)