Series E preemption rights


(Arturs Vancans) #1

Congratulations on £85M raise on Series E!

I would like to know if I, as a Crowdfunding investor, have preemption rights and if so, how could I have participated in the Series E round?


#2

My understanding is that Monzo account holders will get to participate in the round, our turn will come before year end (I believe).


(Kevyn) #3

I stand to be corrected but I believe @AVancans is asking that as an existing shareholder he should be given the right to purchase further shares when there is a dilution of the total number of shares from the issuing of new shares. He isn’t asking about the Crowdfunding open to all Monzo users later in the year. An £85 million investment should have triggered preemptive rights (unless they just bought already issued shares) but I don’t know enough on the subject to comment and someone with more knowledge than me needs to answer this.

@AVancans can you not submit a question through Crowdcube? Do you not have an investor contact at Monzo you could not email?


( related to Monzo CEO, Investor in Monzo ) #4

I would imagine that this funding round would operate under the same pre emption rights as last round - i.e. you wont have any

"In this latest round of fundraising, we have decided to waive pre-emption rights for all previous investors (including institutional investors), in order to prevent the round becoming too large."

When you think investors “valued” their stake in a company at something like £280,000,000 in November last year and here we are with Investors, 12 months later , who you would have thought must “do” due diligence, now consider their buy in stake to be good value in a company to be “worth” £1,000,000,000 :slight_smile: - or a lucky punt - who knows :slight_smile:


#5

There’s a fantastic Monzo blog post on putting transparency into action this week. In this spirit, would it be possible, please, for one of the wonderful Monzonauts to let us know if it is the intention to offer existing crowd shareholders pre-emption rights following Monzo’s recent institutional fundraising? :smile: