3 ms·
The public float can be a less than majority fraction of total float.
by dd36 8y ago
The public float can be a less than majority fraction of total float.
- wpietri 8y agoHuh. Are you thinking of Uber here, or is this a more general point? If the former, I'm not sure that's possible given what we know about their cap table. And if the latter, wouldn't fiduciary duty to minority shareholders still require the board to accept a sufficiently good offer?
- dd36 8y agoNo. I know nothing of Uber's capital structure. I helped take a couple of companies public that only offered a minority fraction of their equity to the public markets. They structure as a different class of share.