The stocks had to be bought back first, then basically they could be turned in to the DTCC and the company gets delisted. That’s how Twitter did it.
The other way is to naked short so much you’ve got enough shares to control the board and tank the company from inside then you don’t have to do a buyback because there’s no company. This will be reddit’s future if they even get to ipo at this point.
The stocks had to be bought back first, then basically they could be turned in to the DTCC and the company gets delisted. That’s how Twitter did it.
The other way is to naked short so much you’ve got enough shares to control the board and tank the company from inside then you don’t have to do a buyback because there’s no company. This will be reddit’s future if they even get to ipo at this point.