It’s not as simple as that. Armada capital who advised SPT on the IPO was awarded 15 million options with exercise price at 1.5x whatever the IPO price would be. Thus it was in their interest to make the IPO price as low as possible without upsetting pre IPO holders too much. Directors were also given free options at IPO.
It’s not as simple as that. Armada capital who advised SPT on...
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