Company sponsored secondary transactions (tender offers) are a mechanism by which the company allows an approved investor to purchase shares at a given price / corresponding valuation. Early investors and employees can opt to participate if they want liquidity and are receptive to the purchase price. Depending on the amount of demand from the approved investor, shareholders can opt to sell a portion or all of their holdings to spreadhead their liquidity efforts thereby realizing monetary returns.
Read MoreDec 04, 2023
Neuralink raised an additional $43 million as an extension of its funding round.
Shein filed documents for its upcoming IPO.
SpaceX acquired Pioneer Aerospace, a company that develops parachutes.
Vast Data was raising a new funding round at a valuation greater than $9 billion.
Nov 21, 2023
Deel surpassed $400 million in ARR.
Kraken was sued by the SEC for not registering itself as an exchange.
OpenAI’s reinstated its CEO, Sam Altman.
Nov 06, 2023
The Boring Company sold shares to existing investors at a $7 billion valuation.
Cohere was raising a new round at a $6 billion valuation.
Flexport acquired Convoy’s tech stack following its bankruptcy.
Klarna posted profitable quarterly results.
Olive AI shut down.
OpenAI’s ChatGPT surpassed 100 million weekly active users.
Oct 23, 2023
Arctic Wolf acquired Revelstoke, a security automation platform.
Convoy went bankrupt.
Databricks acquired Arcion, a platform that replicates enterprise databases.
Loom was acquired by Atlassian for $975 million.
Next Insurance was raising more than $100 million at a $2.2 billion pre-money valuation.
Stash raised $40 million in a convertible note.
Oct 09, 2023
Secondary Market Trend Highlight:
Due to the lowered pricing environment, companies are more regularly exercising their ROFR (Right of First Refusal). As a result, an artificial pricing floor has been created for buyers thereby causing them to increase their pricing to transact. In these instances, buyers can no longer rely on their underwriting or benchmark pricing heuristic and instead pay closer to market pricing to obtain access to these later stage investment opportunities.
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