Valor funds shift BitGo (BTGO) preferred holdings into Class A common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BitGo Holdings, Inc. major shareholder entities affiliated with Valor reported automatic conversions of preferred stock into Class A common stock on January 23, 2026, coinciding with the closing of BitGo’s initial public offering. Each share of Series Seed, Series B, Series B-3 and Series C-2 Preferred Stock converted into one share of Class A Common Stock with no expiration date.
Following these conversions, Valor-related entities reported direct beneficial ownership positions including 9,201,725, 613,048, 1,736,377, 37,755 and 949,703 shares of Class A Common Stock in separate holdings. The preferred stock positions in these series were reduced to zero as they were fully converted into common shares held of record by Valor Digital Investments, LLC and various Valor Equity Partners funds.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,382,515 shares exercised/converted
Mixed
16 txns
Insider
Valor Digital Investments, LLC, VALOR EQUITY PARTNERS VI L.P., VALOR EQUITY PARTNERS VI-A L.P., VALOR EQUITY PARTNERS VI-B L.P., Valor Equity Associates VI L.P., VALOR EQUITY PARTNERS IV L.P., VALOR EQUITY PARTNERS IV-A L.P., VALOR EQUITY PARTNERS IV-B L.P., Valor Equity Associates IV L.P., Valor Equity Capital IV LLC
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series Seed Preferred Stock | 229,502 | $0.00 | -- |
| Conversion | Series Seed Preferred Stock | 4,763 | $0.00 | -- |
| Conversion | Series Seed Preferred Stock | 122,878 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 9,201,725 | $0.00 | -- |
| Conversion | Series B-3 Preferred Stock | 330,277 | $0.00 | -- |
| Conversion | Series B-3 Preferred Stock | 627,672 | $0.00 | -- |
| Conversion | Series B-3 Preferred Stock | 12,990 | $0.00 | -- |
| Conversion | Series B-3 Preferred Stock | 336,107 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 318,006 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 8,387 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 190,208 | $0.00 | -- |
| Conversion | Class A Common Stock | 9,201,725 | $0.00 | -- |
| Conversion | Class A Common Stock | 330,277 | $0.00 | -- |
| Conversion | Class A Common Stock | 1,175,180 | $0.00 | -- |
| Conversion | Class A Common Stock | 26,140 | $0.00 | -- |
| Conversion | Class A Common Stock | 649,193 | $0.00 | -- |
Holdings After Transaction:
Series Seed Preferred Stock — 0 shares (Direct);
Series B Preferred Stock — 0 shares (Direct);
Series B-3 Preferred Stock — 0 shares (Direct);
Series C-2 Preferred Stock — 0 shares (Direct);
Class A Common Stock — 9,201,725 shares (Direct)
Footnotes (1)
- Each share of Series Seed Preferred Stock, Series B Preferred Stock, Series B-3 Preferred Stock and Series C-2 Preferred Stock automatically converted into one share of the Issuer's Class A Common Stock immediately upon the closing of the Issuer's initial public offering and had no expiration date. Shares held of record by Valor Digital Investments, LLC - Series 1. Shares held of record by Valor Digital Investments, LLC - Series 2. Shares held of record by Valor Equity Partners VI L.P. Shares held of record by Valor Equity Partners VI-A L.P. Shares held of record by Valor Equity Partners VI-B L.P.
FAQ
What insider activity did the Valor funds report in BitGo Holdings (BTGO)?
Valor-affiliated funds reported automatic conversions of preferred stock into BitGo Class A common shares. On January 23, 2026, multiple series of preferred stock converted one-for-one into Class A common stock in connection with BitGo’s initial public offering, eliminating those preferred positions.
Which BitGo securities were converted by the Valor funds on January 23, 2026?
The Valor funds converted multiple preferred stock series into BitGo Class A shares. Series Seed Preferred, Series B Preferred, Series B-3 Preferred and Series C-2 Preferred Stock all automatically converted into Class A Common Stock upon the closing of BitGo’s initial public offering.