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You get cashed out. You will not have an option to keep your shares.if Tesla goes private what will happen with the shares if I want to keep them? I'm having them in my TFSA account (I'm in Canada)
you cant keep them. You will be cashed out at $420 per share.Curious to know what percentage of you will keep your shares if Tesla goes private.
You get cashed out. You will not have an option to keep your shares.
you cant keep them. You will be cashed out at $420 per share.
Well, according to Elon (and everyone else), we will have the option to hold our shares in the new private company.
Well, according to Elon (and everyone else), we will have the option to hold our shares in the new private company.
Definitions are the issue. A special purpose fund can comply as a single investor in some cases.This is going to be another "P100D loaners for all!" promise that doesn't materialize. SEC rules say if you have more than 500 non accredited investors, or 2,000 investors overall, you must perform some reporting under the Exchange Act. Something I am assuming he would want to avoid.....
Maybe I am wrong, but i think that red tape is going to cause him to reverse course and force a buyout.
Definitions are the issue. A special purpose fund can comply as a single investor in some cases.
How Fidelity's Ownership in SpaceX Could Be a Model for Tesla
There are technical requirements that investors in such funds must qualify as 'sophisticated' investors but are not limited in number. As the Bloomberg piece points out there are a number of those. I am invested in one such fund, in the specific case it is only securities of a single private firm, but there are multiple security types. This arena is quite complex and regulatory compliance is tricky. Fidelity has done this for some time. FWIW, these investments are often rather illiquid. For my part I view them as buy-and-hold. Fidelity is not making these funds as an eleemosynary activity either. OTOH, private companies are cheaper to run than are public ones.
Definitions are the issue. A special purpose fund can comply as a single investor in some cases.
How Fidelity's Ownership in SpaceX Could Be a Model for Tesla
There are technical requirements that investors in such funds must qualify as 'sophisticated' investors but are not limited in number. As the Bloomberg piece points out there are a number of those. I am invested in one such fund, in the specific case it is only securities of a single private firm, but there are multiple security types. This arena is quite complex and regulatory compliance is tricky. Fidelity has done this for some time. FWIW, these investments are often rather illiquid. For my part I view them as buy-and-hold. Fidelity is not making these funds as an eleemosynary activity either. OTOH, private companies are cheaper to run than are public ones.
eleemosynary
My shares are in an IRA and SEP IRA and not sure if I can continue ownership as private company.