Philz Coffee close to closing deal to sell to private equity firm for $145M
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Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#2> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration”
How is this even legal?
Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#3> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration” How is this even legal?
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Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
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Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#5[flagged]
Did you seriously need an LLM to tell you PE buyouts never go well for the acquired company?
Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#6> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration” How is this even legal?
"In a liquidation, common stockholders receive whatever assets remain after creditors, bondholders, and preferred stockholders are paid."
Coupled with what sounds like an already bad financial state of the company... I'm not claiming no foul play, but it looks like there is a reasonable avenue for what is happening.
Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#7> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration” How is this even legal?
Right? Can anyone answer this? The article doesn’t go into it.
Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#8> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration” How is this even legal?
A follow up question: how can I check that my own stock is not subject to the same terms? Can publicly traded companies do the same?
Re: Philz Coffee close to closing deal to sell to private equity firm for $145M
#9> “All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration” How is this even legal?
A follow up question: how can I check that my own stock is not subject to the same terms? Can publicly traded companies do the same?
Of course. Common stock can always get wiped out by superior classes.