short squeeze lover
Shroomie
OP
:
There's lots of talk about the Qatar Investment Authority selling its 20 million share position in Sofi.
Some will say it's a big negative, and bears will likely claim it shows weakness in the company.
They company can't say anything, but I can.
Put this into perspective, QIA had approximately $315 million in preferred shares that were redeemed and 12 million warrants that expired worthless.. which would have represented a total value or investment of about $400 million... they had 20 million common shares left equating to about $140 million. The bulk of their investment was in preferred shares with a large guaranteed return pre ipo.
I haven't looked lately, but I recall they had to retain 50% of their investment to retain their seat on the board... and although they were on the ballot and confirmed to the board in the annual meeting on May 21, 2024, the preferred wasn't actually redeemed until May 29, 2024... so at that time, they effectively would lose their required seats, and they likely sold because of their decreased investment and lack of a board seat in the future.
I am pretty sure there was no other reason, but I'm sure someone will say that well, they could have bought more with their preferred proceeds. So maybe you could view that as a negative.
But they aren't a classic institutional investor. They got a great return on their preferred and sofi investment and moved on when that return was no longer guaranteed.
Sofi no longer needs them on the board, and their lower level of investment doesn't warrant a mandatory board seat in any event.
股海踏浪
Shroomie
OP
:
Do you know why? They have completed the task of deceiving Wall Street veterans, so they can retreat safely. All that's left are stupid lambs waiting to be slaughtered
Always Growing
short squeeze lover
:
Thanks for taking time to share the important info. Sounds logical, well, at least we can do our own diligence and verify the facts with what you've given. Unlike most comments which are just dismissive claims
73173361 : 4th biggest share holder sold out completely.
Shroomie OP 73173361 : I saw that.. wondering why
short squeeze lover Shroomie OP : There's lots of talk about the Qatar Investment Authority selling its 20 million share position in Sofi.
Some will say it's a big negative, and bears will likely claim it shows weakness in the company.
They company can't say anything, but I can.
Put this into perspective, QIA had approximately $315 million in preferred shares that were redeemed and 12 million warrants that expired worthless.. which would have represented a total value or investment of about $400 million... they had 20 million common shares left equating to about $140 million. The bulk of their investment was in preferred shares with a large guaranteed return pre ipo.
I haven't looked lately, but I recall they had to retain 50% of their investment to retain their seat on the board... and although they were on the ballot and confirmed to the board in the annual meeting on May 21, 2024, the preferred wasn't actually redeemed until May 29, 2024... so at that time, they effectively would lose their required seats, and they likely sold because of their decreased investment and lack of a board seat in the future.
I am pretty sure there was no other reason, but I'm sure someone will say that well, they could have bought more with their preferred proceeds. So maybe you could view that as a negative.
But they aren't a classic institutional investor. They got a great return on their preferred and sofi investment and moved on when that return was no longer guaranteed.
Sofi no longer needs them on the board, and their lower level of investment doesn't warrant a mandatory board seat in any event.
股海踏浪 Shroomie OP : Do you know why? They have completed the task of deceiving Wall Street veterans, so they can retreat safely.
All that's left are stupid lambs waiting to be slaughtered 
Always Growing short squeeze lover : Thanks for taking time to share the important info. Sounds logical, well, at least we can do our own diligence and verify the facts with what you've given. Unlike most comments which are just dismissive claims