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Oyo founder to invest $700M in Oyo’s new financing by “putting his existing shares as collateral to buy more shares... then putting those new shares to buy even more shares..., “it’s like getting a new credit card to pay for the older one.””https://techcrunch.com/2019/10/07/india-oyo-ritesh-agarwal-investment/ …
I can imagine an outcome where this is considered a genius move for one person, but also other outcomes where it’s terrible for everybody, including all other shareholders.
The collateral is being underwritten by Softbank's merchant banker in Tokyo. Its Masa's way of "soft-acquiring" more founder equity.
Often heard that SteveB borrowed money to buy MSFT shares in the late 80s - some say $50M worth. I wonder what he used as collateral.
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