Do existing shareholders have to pay to be part of the future...

Do existing shareholders have to pay to be part of the future IPO?
e.g so much per existing share?
or do our existing shares become non existant?
confused as to the future process and not much information being released except that sophisticated investors have taken up positions for a return of 15% per annum and shares being allocated to directors.
Where do existing shareholders stand in this situation?
A consolidation perhaps