OpenAI completed a $7 billion secondary share sale enabling current and former employees to sell stock at an $852 billion valuation, providing near-term liquidity ahead of an anticipated IPO.
Anthropic employees declined to sell stock in a tender offer at a $350B valuation, anticipating a new $900B valuation after a $30B funding round. The company's rapid revenue growth and potential IPO signal strong future prospects.
Blue Origin has launched a new employee stock plan. This aims to boost morale and make benefits competitive with SpaceX. The new plan allows payouts during external funding rounds and tender offers. This offers employees a chance to realize value from their vested options. The company is also focused on its New Glenn rocket and lunar lander projects.
Saba Capital Management's tender offers for shares in non-traded business development companies managed by Blue Owl Capital and Starwood Capital came in below expectations, acquiring only about $10 million in aggregate face value across 190 trades. The Blue Owl OBDC II tender failed to garner more than 1% of what was offered, while most trades came from Starwood's SREIT. The low participation reflects investor reluctance to liquidate at steep discounts amid elevated redemptions across private-credit funds.
