Ripple Holders Refuse to Sell in $1B Tender Offer

According to a recent report from The Information, Ripple Labs proposed to buy back $1 billion of shares at a valuation of $40 billion last month.

However, the company saw the lowest participation rate in this tender offer, with many private shareholders choosing not to sell their shares.

Obviously, this shows that investors are confident in the long-term potential of Ripple after the company’s victory over the SEC and a massive acquisition.

In January 2024, Ripple announced a $285 million purchase of its shares from early investors/employees that valued the company at approximately $11.3 billion. However, as reported by U.Today, CEO Brad Garlinghouse said the valuation was too low, citing the company’s vast XRP holdings.

In June, the San Francisco company began a significantly larger tender offer of $700 million at $175 per share.

Will Ripple Go Public?

Rumors about Ripple’s potential IPO have been swirling for years. However, Ripple’s president, Monica Long, rejected the idea of ​​going public.