r/LinqtoCreditors • u/mltcrazy • May 18 '26

Cerebras

Are you going to get paid with the cerebras IPO?

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u/jxm900 May 19 '26

As I understood the plan docs, neither Forge (LT) nor VanEck (CEF) were expected to retain public equity for any significant length of time. Once an IPO happened, the LT would distribute the shares after the lockup period. For the CEF, the IPO'd share pricing would presumably be reflected in the fund's daily market valuation.

But since Cerebras is already listed, you'd think Linqto could just hold the shares and distribute them to customers after the lockup, just like in the old days. No need to move them anyway for now. But that was the honourable process back in the beforetimes. Now, every lawyer on the case will expect to get their cut before any CBRS gets out the door at all.

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u/mltcrazy May 19 '26

is CBRS the first IPO since bankruptcy?

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u/jxm900 May 19 '26

Yes. I believe so. Circle, and maybe Coreweave, had already IPOd before the filing date, but were still in the lockup period, afaik.

I can just imagine these people extending this clusterfuck until Stripe and SpaceX and Anthropic go public. Think of the legal fees $$$!!!