SpaceX's internal document reveals the significant gap between share prices for employees and investors, illustrating the advantages of preferred stock during primary sales.
The documents indicate that SpaceX is currently valued at $350 billion, suggesting that liquidation preferences for preferred shareholders won't impact common stockholders unless a lower-than-expected sale occurs.
Investors buying secondary shares from employees in May 2022 paid $70 each, a stark contrast to the $270 price per share during primary rounds.
As SpaceX continues to raise capital, the amount owed to preferred shareholders, in the event of a sale, could exceed the $6.67 billion previously estimated.
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