Each of the seven co-founders of U.S. artificial intelligence developer Anthropic will sell shares worth about $250 million in the company's initial public offering on the Nasdaq while retaining control of the firm, infohub.kz reports.
According to an updated prospectus filed with the U.S. Securities and Exchange Commission, all seven co-founders will offer equal blocks of 3,378,378 securities each. At an average price of $70 to $78 per share (about $74), each member of the founding team will receive roughly $250 million in cash before taxes, and total payouts to the co-founders will reach $1.75 billion, TechCrunch writes.
The sellers include CEO Dario Amodei, President and Chair Daniela Amodei, Chief Compute Officer Tom Brown, Head of Public Benefit Jack Clark, Chief Science Officer Jared Kaplan, Chief Architect Sam McCandlish and Head of Interpretability Research Christopher Olah. For each of them, the stake being sold amounts to only about 1.5% of their personal holdings. According to Bloomberg Billionaires Index estimates, each co-founder's fortune will stand at around $18 billion once the deal is completed.
The partial sale will not affect the distribution of management control at the company. Thanks to special-class shares with enhanced voting rights, the founders will collectively retain 51.1% of voting power. Trading in the company's shares under the ticker ANT will begin on the Nasdaq Global Select Market. The company's valuation in the offering could reach $1.4 trillion.