Redpoint Ventures V discloses major BitGo (BTGO) preferred stakes
Rhea-AI Filing Summary
Redpoint Ventures V, L.P. and Redpoint Ventures V, LLC filed an initial ownership report as 10% owners of BitGo Holdings, Inc. (BTGO). The filing lists holdings of Series A and Series B Preferred Stock, which are each convertible into Class A Common Stock on a 1‑for‑1 basis with no expiration date. Upon the closing of BitGo’s initial public offering, all of these preferred shares will automatically convert into Class A Common Stock.
Redpoint Ventures V, L.P. directly holds 9,446,081 shares of Series A Preferred Stock and 1,038,435 shares of Series B Preferred Stock. An affiliated entity, Redpoint Associates V, LLC, holds an additional 242,207 shares of Series A Preferred Stock and 26,225 shares of Series B Preferred Stock indirectly attributed to the reporting group. Redpoint Ventures V, LLC is the sole general partner of Redpoint Ventures V, L.P. and has sole voting and investment control over the shares held by the partnership, and the reporting entities disclaim beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Series B Preferred Stock | -- | -- | -- |
| holding | Series B Preferred Stock | -- | -- | -- |
Footnotes (1)
- The Series A and Series B Preferred Stock is convertible into Class A Common Stock on a 1-for-1 basis and has no expiration date. Upon the closing of the Issuer's initial public offering, all shares of Series A and Series B Preferred Stock will be converted into shares of Class A Common Stock of the Issuer. Redpoint Ventures V, LLC ("RV V LLC"), is the sole general partner of Redpoint Ventures V, L.P. ("RV V"). RV V LLC and Redpoint Associates V, LLC ("RA V") are under common control. As such, RV V LLC has sole voting and investment control over the shares owned by RV V, and may be deemed to beneficially own the shares held by RV V. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein, except to the extent of its respective pecuniary interest therein.
FAQ
What did Redpoint Ventures V report in its Form 3 for BTGO?
What is the conversion ratio of BitGo’s preferred stock reported in this filing?
When will BitGo’s Series A and Series B Preferred Stock convert into common stock?