Anthropic May Allow Early Investors to Sell Shares in IPO
Anthropic has filed confidentially for an initial public offering (IPO) and is considering allowing existing shareholders, including early investors or employees, to sell shares during the process. This approach differs from companies like SpaceX and Cerebras Systems, which did not allow pre-IPO share sales in their offerings. Anthropic may also implement longer-than-usual lockup periods for unsold shares, potentially delaying when a larger portion of its stock becomes available on public markets. The decision to include secondary share sales could increase the initial public float and provide liquidity earlier than typical IPO structures. SpaceX's recent IPO demonstrated how delayed lockups can significantly expand tradable shares later. Anthropic is also reportedly considering Rule 10b5-1 plans for employees, which would allow structured future selling without immediate market impact. The company has already raised at least $130 billion and may raise more than SpaceX's $86 billion IPO. However, the amount of cash flowing directly to Anthropic will depend on how many shares are sold by existing shareholders versus newly issued ones.
Tickers: $SPCE
Topics: IPO Lockup Periods Share Sales