Tender offer · OpenAI
OpenAI tender offer (October 2024)
OpenAI tender offer announced Oct 2, 2024 at $210.00 per share, implying a $157B valuation.
Announced Oct 2, 2024Closed Nov 21, 2024
Summary
OpenAI is reported to have run an employee tender offer at $210 per share, implying a $157B valuation, with a sizing reported in the press at approximately $1.5B.
Notes
OpenAI’s corporate structure is non-standard, and tender offers involving its capped-profit subsidiary’s units have unique mechanical elements. See the related guides for context on how tender offers generally work and where to look for the binding offer documents.
Firms involved
- Goldman Sachs financial advisor
- Wilson Sonsini Goodrich & Rosati issuer counsel
Sources
- OpenAI runs employee tender at $157B valuation — Example Wire (2024-10-03)