Anthropic issues warning about secondary market stock trading

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Deep Tide TechFlow News, on May 13, according to a report on the AXIOS website, Anthropic is cracking down hard on unauthorized secondary-market stock trading—at least in terms of what it says publicly. Anthropic previously said that any sale or transfer of Anthropic stock, or any equity interests in Anthropic, without approval from the board is invalid and will not be recognized in the company’s books and records. It then named eight secondary trading platforms, including well-known ones such as Hiive and Forge.

The report says Anthropic’s restrictions are not unusual, but the tricky part is that while Anthropic does not allow special purpose vehicles (SPVs) to buy its stock, many SPVs claim they can. Generally speaking, SPVs can provide indirect investment opportunities through derivatives, and some SPVs themselves are derivatives that can sign agreements with authorized holders, making it nearly impossible for issuers to regulate. The report notes that despite strong warnings from Anthropic to potential buyers and sellers, it is unlikely to take many enforcement actions. (Jin10)

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