We had this posted on the Crowdcube pledge story -
''On the pledge page they gave you an option to sell your existing holding (no guarantees of course), if you have one.
Upon investigation, I was delighted to discover my 2013 investment has almost quintupled in "value", and is now "worth" 29p a share!
This page is now showing 404Error...''
Seems odd??
I don't think it's buying back the shares as they wouldn't have the money to do so. It's probably using some of the £39m to buy shares from earlier investors. Maybe earlier institutional investors decided they had enough? Or maybe even the founders are not so sure about the future of the business and may want to sell some shares?
ReplyDeleteSo to recap: CC is going to raise money at a valuation (65m pre-money) which looks RELATIVELY cheap compared to the recent SR raise, unsurprisingly the demand is high and they even offer investors of previous rounds the chance to exit at multiples of 5 (2013) and 8(2012)... some people are really hard to please
ReplyDeletethis might have something to do with it...
ReplyDeleteWe have invited existing Shareholders to offer up to a further
17,111,567 existing Shares for sale at the same price provided
there is in excess of £12 million worth of demand. The number of
additional existing Shares is not yet known but will be announced
on Crowdcube’s website if there is more than £12 million worth
of demand.