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Mike Cagney ๐Ÿ‡บ๐Ÿ‡ธ
@mcagney
@HelloNavra CEO, @Figure (FIGR) executive chair. Co-founder of Figure, @Provenancefdn, @SoFi and Navra. Views are my own, not investment advice.
๊ฐ€์ž… May 2009
187 ํŒ”๋กœ์ž‰ ์ค‘    25.1K ํŒฌ
One challenge of going public as a venture backed company: your cap table has to rotate from venture funds to public market investors. VCs aren't permanent holders of public stock. They sell or distribute, and that overhang weighs on the tape regardless of fundamentals. Every investor has their own timing and discipline around these types of transactions, so an efficient purchase isnโ€™t always possible. That being said, we're looking at ways to make that rotation more orderly. As Chairman, I think a lot about the long term growth of Figure stock and its underlying dynamics. Our newly established WKSI status lets us facilitate registered secondary offerings, so blocks can come to market in an organized way. And our board approved buyback gives us the ability to bid on blocks when the price is attractive for shareholders. We'll be transparent with the market if/when we pursue this.
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