Figure AI sent cease-and-desist letters to secondary markets brokers

Last month Brett Adcock, founder of figures to start robotics AI, claims in the post on x that his company “Now is the most sought after private stock in the secondary market.”

But the company sent letters about interruption and desisters at least two brokers that operate secondary markets, these intermediaries Techcrunch said. These people said that the letters to interrupt and divide the AI ​​demanded that they stop marketing the company’s shares.

Both mediators said they first received letters Bloomberg reported In mid-February, this figure was looking for $ 1.5 billion worth $ 39.5 billion in a 15-time increase compared to $ 2.6 billion Valuation that was achieved in February, 2024.

Spokesman Figure AI told Techcrunh that the company sends such letters when the company did not authorize the broker to sell its supplies, suggesting that it has a long history of sending such letters.

“This year, when we discovered the unauthorized intermediary of a third party, marketing figures without the approval of the Figure Board of Directors, the company sent a break and gave up asking the unauthorized broker to stop, as it did earlier when other unauthorized brokers were discovered,” said a spokeswoman in a written letter. “We do not allow trading on the secondary market in our sections without the authorization of the Committee and the company will continue to protect against unwanted third -party intermediaries.”

Because the figure is a private company, not public, its shares cannot be easily sold at will, especially without the event that has approved the company. This is a limit of why secondary markets have appeared at all, including those who offer investors alternative ways to get money from shares in front of IPO, Like loans secured by their startup shares This returns when the company becomes public.

Secondary markets on the end of the letter figure received Techcrunh that they have other theories about why some executive directors do not like to sell sharing in their markets.

Existing shareholders were trying to sell their shares at a price below a new hope for $ 39.5 billion, these brokers said. Both brokers said Techcrunh that some companies are involved in the appearance that secondary sections of the lower price can be competed with a new circle.

Without commenting on the Case of the Figure in particular, SIM Desai, founder and executive director of the secondary stock market PigTechcrunh told that companies sometimes block direct secondary sales because they believe that “the game is zero.”

Desai, of course, claims that the opposite could be true: active trading on the secondary market could attract more interest in the primary stakes in the new raise.

But if the activity of the secondary market does not encourage interest in the primary circle, the problem may be with the value assessment itself. “If one is hard to sell, it’s just a price and estimate function, not a capital availability,” Desai said.

The picture has also been the subject of several articles lately, describing the progress of the figure with his customer Marquis, BMW. The painting replied, in at least one case, saying that the article had so much inaccurateness that he was threatening lawsuits.

As for how many figures AI raises the following – and it is worth it. Whether existing investors will be able to bring in early in secondary transactions will also be determined.