Is it considered IPO failure?
3 replies (most recent on top)
The main success of the IPO was to gain back some ROI for Mubadala on their investment and to pad the pockets of execs at GF.
With 500M outstanding shares aprox and Mubadala selling off 10% and then giving aprox 5% to execs, for the 10% they sold off at IPO what would be 50M shares at $50/share thus Mubadala gained back aprox $2.5B ($50/share * 50M shares = $2.5B) dollars while still owning 85% of company. Now the real winners were the execs, directors got about $500K-$1M worth of stock option values after sell-off but before taxes (lose up to 40% aprox), other levels above director got more. There were hundreds of execs that walked away after the IPO with $0.5M to $20M+ in their pockets (we all know how much TC and DR sold off). The vesting of those stock options ended at YE 2022 so this is why so many execs left so far in 2023, their stock options fully vested year end 2022.
It is getting close, $52+ now vs. $50 IPO. The market/analysts are catching up with TC and his gang's financial tricks. Up until now they have set their own very conservative targets and achieved them but moving into future analysts will set the targets and expectations and this will be much harder to achieve for GF.
Nothing, because TC already sold all of his..