Secondary Sale
Definición
A secondary sale is the sale of existing shares by current holders (founders, employees, early investors) to new buyers, as opposed to a primary issuance where the company sells new shares.
Cómo aparece en el fundraising
Later-stage rounds often include secondary components letting early holders take partial liquidity before an exit.
Preguntas frecuentes
When can founders sell secondary?
Typically small portions during strong later rounds, with investor consent; taking meaningful money off the table at seed reads poorly.
How are secondary shares priced?
Usually at or below the concurrent primary round price, reflecting common-versus-preferred differences and liquidity discounts.
Términos relacionados
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