Capitalist Exploits
Exploring, identifying, and profiting from asymmetry in financial markets. Focus on global macro.
Are you so sure they did? The series D and series E investors were protected by a ratchet.
Tangent Style
1
Most every investor is in the black and yes, late stage investors invoked a ratchet of 30% however the financial statements reflect that $30 million in the Series E shares went to investors who waived the ratchet right. Those investors have a paper loss of nearly $4m based on current stock price.