How SPACs are changing the IPO game: Equity ownership of founders a big consideration
SPACs are hot right now, and one of the reasons is they can keep more equity in the hands of founders. (GeekWire Illustration / Canva Image, adrian825)
A few weeks ago, a longtime GeekWire reader sent a note expressing shock that Sana Biotechnology co-founder and CEO Steve Harr only owned 4.9% of the company after the completion of the IPO.
Given that the Seattle biotechnology company was on the cusp of a blockbuster stock market debut and now is valued at more than $6 billion, I responded that 4.9% of $6 billion seemed pretty good to me. After all,
Title: How SPACs are changing the IPO game: Equity ownership of founders a big consideration
Sourced From: contacted.org/how-spacs-are-changing-the-ipo-game-equity-ownership-of-founders-a-big-consideration/
Published Date: Tue, 02 Mar 2021 16:58:13 +0000