Comment by twothreeone
6 days ago
No you absolutely can sell as employee. For that you have employees determine how many shares they would be willing to offer up for sale initially as part of the roadshow. The catch is that shares sold during the roadshow will then not have a price yet, because the price per share in the IPO is determined by the demand and what underwriters are willing to pay during roadshow negotiations. The lockup period starts after. Additionally, insiders can negotiate structured sales during the lockup (e.g. in the event the PPS gains significantly), but they again have to say how much they would be willing to sell without knowing the exact price.
And it turns out that price is $33/share.
So not as much an IPO as an exit through the greater fool.
There’s a lot of fools in the world, all you have to make sure of is that you are not the last one.
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