Last month, Brett Adcock, the founder of the start of robotics, claimed in a post on X that his company “is now # 1 most demanding private shares in the secondary market”.
But the company has sent them vacation and depressing letters to at least two intermediaries that run secondary market countries, they told Techcrunch mediators. These people said that the papers of rest and desired to the figure of him demanded that they stop the marketing of the company’s stock.
Both brokers said they first received the letters after Bloomberg reported in mid-February that the figure was demanding a round of $ 1.5 billion in a $ 39.5 billion rating-a fifteen-fold increase in rating of $ 2.6 billion that reached February 2024.
A figure spokesman he told Techcrunch that the company sends such letters when it has not authorized the mediator to sell its shares, suggesting that it has a long history to send such letters.
“This year, when we discovered an unauthorized third -party intermediary was marketing shares of the figure without approval by the figure directors board, the company sent a break and disinfecting asking for unauthorized mediator to stop, as it did when other unauthorized brokers were discovered,” Spokester Techcrunch told a statement. “We do not allow the trading of the secondary market in our shares without the Authorization of the Board and the company will continue to be protected by unwanted third -party intermediaries on the market.”
Because the figure is a private company, not a public, its shares cannot be easily sold at the desired by its investors, especially without an event authorized by the company. This restriction is why secondary markets have appeared at all, including those that provide investors alternative ways to get money from shares ahead of IPO, such as loans provided by their starting shares that become repayable when a company comes out in public.
Secondary markets at the conclusion of the picture letters told Techcrunch that they have other theories as to why some CEO dislikes stock sales in their markets.
Existing shareholders were trying to sell their shares at a price that was under the new estimation hoped for $ 39.5 billion, these intermediaries said. Both brokers told Techcrunch that some Chaphae companies with the prospect that secondary shares at lower prices could compete with the new round.
Without commenting on the issue of the picture specifically, SIM Dessai, founder and CEO of the Secondary market Hiive shares, told Techcrunch that companies sometimes block direct secondary sales because they believe it is a zero game.
Dessai, of course, argues that the opposite could be true: the active trading of the secondary market can attract more interest in primary shares in a new rise.
But if the secondary market activity fails to promote interest in the primary round, the issue may stay with the assessment itself. “If one has a difficult time to sell something, it is simply a function of price and valuation than the availability of capital,” Desai said.
The figure has also recently been the subject of some news articles, describing the progress of the picture with her client Marque, BMW. The figure responded, in at least one case, saying the article had so many inaccuracies that he is threatening to sue.
As for how many figures he raises further – and in what appreciation, this remains to be seen. If existing investors are able to make money at the beginning of secondary transactions, it must also be determined.
