John Riccitiello steps down as CEO of Unity after pricing battle

Re:John Riccitiello steps down as CEO of Unity after pricing... by denton-scratch on Tuesday October 10, 2023 @05:05AM (#37829916)

I thought that if the company is issuing new shares, it was customary to give first refusal to existing investors (a "rights issue"?)

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Re:John Riccitiello steps down as CEO of Unity after pricing... by PeterisP on Tuesday October 10, 2023 @06:50AM (#37830507)

There may be a preexisting contract between investors that grants this right of first refusal. In some scenarios (e.g. startup seed rounds) it is customary to require such a contract as part of the investment deal, however, if you don't contract for this right you don't have it, and it may well be that some shareholders (e.g. investors) have this right and other shareholders (e.g. initial employees) don't.

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Re:John Riccitiello steps down as CEO of Unity after pricing... by reactordev on Tuesday October 10, 2023 @10:47AM (#37832796)

Entirely up to the company.

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