Figure AI sent letters to terminate and desist to brokers on secondary markets

Last month, Bret Adkok, founder of a figure for launching a robotics AI, Claimed in a post of X that his company “Now is No. 1 the most sought after private action in the secondary market.”

But the company has sent letters to terminate and desist to at least two brokers who run secondary markets, these brokers told TechCrunch. These people said AI’s letters for termination and AI descendants demanded that the company’s shares on the market.

Both brokers said they had received the letters for the first time after Bloomberg reported In mid-February, this figure was looking for a circle of $ 1.5 billion in a $ 39.5 billion estimate of a $ 39.5 billion rating $ 2.6 billion An estimate that achieved in February 2024.

A spokesman of AI figure told TechCrunch that the company sends such letters when the company has not allowed the broker to sell its shares, which suggests that it has a long history of sending such letters.

“This year, when we discovered an unauthorized third-country broker, they were marketing shares in figures without approval by the Directors’ Figure Board, the company sent termination and refusal with a request by the unauthorized broker to suspend, as it had been done earlier when other unauthorized brokers were found,” the spokesman for TECCRUNCH said. “We do not allow secondary market trade in our shares without the permission of the board and the company will continue to defend itself against unwanted brokers in third countries in the market.”

As the figure is a private company, not public, its shares cannot be easily sold at will by its investors, especially without an event allowed by the company. This restriction is why secondary markets have appeared at all, including those that offer investors alternative ways to receive money from shares before IPO, as loans secured by their start -up shares which become extinguisher when a company becomes public.

The secondary markets at the receiving end of the letters in the figure have told TechCrunch that they have other theories about why some executive directors do not like sales of sharing in their markets.

Existing shareholders were trying to sell their shares at a price, which was under the new hope of estimating $ 39.5 billion, these brokers said. Both brokers have told TechCrunch that some companies are developing in the prospect that secondary shares at a lower price can compete with the new round.

Without specifically commenting on the case of the figure, Sim Deza, founder and executive director of the secondary shares market PigHe told TechCrunch that sometimes companies block direct secondary sales because they believe that “this is a zero sum.”

Desai, of course, claims that the opposite can be true: active trade in the secondary market can attract more interest for primary shares to a new increase.

But if the secondary market activity fails to lead to an interest in the primary round, the problem may be in the assessment itself. “If someone is hard to sell something, it’s just a price and valuation feature, not the availability of capital,” Deza said.

Recently, the figure has also been the subject of several news articles, describing the progress of the figure with the client of Marquee, BMW. The figure responded in at least one case, saying that the article has so many inaccuracies that it threatens to judge.

As for how many AI digit is the next one – and at what assessment it remains to be seen. Whether existing investors will be able to win at the beginning of secondary transactions.