Ask HN: What to do with valuable options in company that should have IPO’d
I used to work at a 18yr old private company that “should” have IPO’d. However, we still haven’t. The options are valuable. However, i do not have the minimum required (175k) to sell on EquityZen.
I need to sell some because my father is going through Chemo, and i need the money. I have around ~110k in options.
What are my options?
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That being said what you’re looking for is likely a forward contract to an investment group. A forward contract gives you the money now, in exchange for a promise of transferring your shares/options when the company IPOs.
The best way to do this is to look at what investment groups have invested in your company. Contact them and ask if they’ll do a forward contract. When I did one, I did it through TigerGlobal. As soon as my company IPOed, I transferred the shares and was good to go.
You may lose some value this way; but if you need the money, you need the money.
Best of luck my friend, and I wish your father better health!
When you were going through the process, How were you able to find investment groups?