The article also lists the investors authorized to buy these shares, including Andreessen Horowitz, Aliya Capital Partners, Gigafund, 137 Ventures, Point 2 Prove Investment, Atreides Management, and TCP Exploration Fund 2022. Most of these investors have close ties to SpaceX founder Elon Musk or are vocal supporters of his work. The article also mentions that SpaceX did a 10-for-1 stock split of its Class A, B, and C common shares in February 2022, which was beneficial for employees.
Key takeaways:
- SpaceX allows its employees to sell some of their shares to company-authorized outside investors, with investors paying $70 per share to employees in a recent offer, a significant discount compared to the share prices investors pay when investing in primary rounds.
- Investors authorized to buy these secondary shares include Andreessen Horowitz, Aliya Capital Partners, Gigafund, 137 Ventures, Point 2 Prove Investment, Atreides Management, and TCP Exploration Fund 2022, most of whom have close ties or are vocal supporters of SpaceX founder Elon Musk.
- Employees' common stock shares were split 10-for-1 in February 2022, and the $70 per share price was an improvement over the previous tender of $56 when adjusting for the stock split.
- If SpaceX were to sell itself, the first $6.67 billion would be owed to preferred shareholders, and if the company goes for an under-$7 billion fire sale, common stockholders could get nothing.