OpenAI’s employee stock sales in April were 65% higher than previously reported at $495 million

OpenAI closed a takeover offer in April that allowed employees to sell stock to a group of investors. The deal raised $495 million, 65% more than the previously reported $300 million. The offering was designed to raise $536 million worth of equity, according to the SEC filing, so future sales could be even larger. The shares were sold to 40 accredited investors, including venture capital firms Andreessen Horowitz, Khosla Ventures, Sequoia Capital and Founder’s Fund, TechCrunch previously reported. Existing investor Tiger Global is not actually involved in the sale, according to people familiar with the matter. The deal is understood to have been done through a Delaware shell company called Aestas Management Company. (Business Insider)

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