Early stage liquidity isn't normally how it works. It's very interesting as these aren't real shares, they're nominee shares.
So as long as the nominee shares can be bought and sold to other nominees then I agree it works.
But... if an employee vests, but we haven't IPO'd, then can they sell their shares via Seedrs?
I'd guess the answer is no because the shares are different and result in an actual transfer of real shares. I'd also argue that I wouldn't want this to happen, and neither would potential institutional investors down the road... as it could create the ability for a minority shareholder to become more powerful than was intended at this piont and deter future investment.
The FAQ should clearly state that yes you can sell, but in effect you can only sell nominee shares to other potential nominees under the existing subscription agreement.
Early stage liquidity isn't normally how it works. It's very interesting as these aren't real shares, they're nominee shares.
So as long as the nominee shares can be bought and sold to other nominees then I agree it works.
But... if an employee vests, but we haven't IPO'd, then can they sell their shares via Seedrs?
I'd guess the answer is no because the shares are different and result in an actual transfer of real shares. I'd also argue that I wouldn't want this to happen, and neither would potential institutional investors down the road... as it could create the ability for a minority shareholder to become more powerful than was intended at this piont and deter future investment.
The FAQ should clearly state that yes you can sell, but in effect you can only sell nominee shares to other potential nominees under the existing subscription agreement.