Anthropic has filed an updated S-1 for the IPO expected to occur before Thanksgiving that will value the AI startup at about $1.4 trillion. The company has revealed that each of its seven founders will sell shares worth $250 million while still retaining control of Anthropic.
\n\nTechCrunch reports that the filing sets an IPO price range of $70 to $78 per share, though companies sometimes trade above that range once the stock opens. Anthropic plans to offer 825 million Class A shares, a sale expected to raise between $57.75 billion and $64.35 billion.
\n\nEach of Anthropic’s seven co-founders plans to sell roughly 3.4 million shares apiece. At the midpoint price of $74, that works out to just shy of $250 million cash per founder. Despite cashing out to the tune of nine figures, the seven cofounders will retain control of the company.
\n\nAfter the share sale, each founder will hold about 3.2 percent of outstanding Class A shares, or roughly 22 percent collectively. They will also each receive one share of Class F stock carrying supervoting rights, giving the founders control of 51.1 percent of total votes; the filing elsewhere describes Class F stock as carrying 50.1 percent of voting…
Original source: https://www.breitbart.com/economy/
