Ripple Holders Refuse to Sell in $1B Tender Offer
According to a recent report by The Information, Ripple Labs offered to repurchase $1 billion worth of shares at a $40 billion valuation last month.
However, the company reportedly saw the lowest participation rate yet in this tender offer, with many private shareholders choosing not to sell their stakes.
Obviously, this shows that investors are confident in Ripple's long-term potential following the company's victory over the SEC and massive acquisition spree.
In January 2024, Ripple announced a buyback of US$285 million of its shares from early investors/employees that valued the company at about $11.3 billion. However, as reported by U.Today, CEO Brad Garlinghouse then stated that the valuation was too low, citing the company's vast XRP holdings.
In June, the San Francisco-headquartered company initiated a significantly larger tender offer of $700 million at $175 per share.
Will Ripple go public?
Rumors about Ripple's potential IPO have been swirling for years. However, Ripple President Monica Long has rejected the idea of going public.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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