My former employer granted me 0.1% of the company, which was 26,000 shares. 3 years later they went public via a SPAC at $10 a share, with 371,000,000 shares floated. Apparently, fundraising rounds significantly diluted common stock and the founders owned a separate type of convertible super preferred stock that was not diluted (the CEO himself still owns over 60% of equivalent common shares).
Now they are trading below $2. So my entire equity grant for a Software Architect role over 4 years would have been worth $50,000 had I stayed.
What a horrible company and emblematic of the types of scams you saw going public via SPACs.
Now they are trading below $2. So my entire equity grant for a Software Architect role over 4 years would have been worth $50,000 had I stayed.
What a horrible company and emblematic of the types of scams you saw going public via SPACs.