They were forced to sell a billion dollars worth of stock at half their previous valuation. And if they don’t succeed then they have to pay back a billion dollars at 10% interest.
So yeah I get they get to keep people and that’s good. But they were forced into making a bad deal. They’ve taken on 16% of their total raise to date and did it at half value. Someone got a potential 2 for 1.
So yeah I get they get to keep people and that’s good. But they were forced into making a bad deal. They’ve taken on 16% of their total raise to date and did it at half value. Someone got a potential 2 for 1.