Liquidity Event
定义
A liquidity event is any transaction converting illiquid shares into cash or tradable stock: acquisition, IPO, or a significant secondary sale.
它在融资中如何出现
SAFEs and preferences define what happens in a liquidity event; employees and founders usually wait for one to realize equity value.
常见问题
What triggers a SAFE in a liquidity event?
Standard SAFEs pay the greater of the investment amount or the converted value when the company is acquired before a priced round.
Can employees get liquidity before an exit?
Sometimes, via company-organized secondary sales or tender offers at later stages.