The ****** Call caht with Claude Walker and Carl did bring up a pertinent point: why did $550M+ of the $600M IPO go to insiders selling out? It's not that insiders shouldn't get some of the liquidity event. But why do we think insiders sold so much?
WiseTech, as a comparison, raised $180M in its IPO, and $56M went to selling shareholders, and Richard White barely sold any.
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