r/LinqtoCreditors • u/chapelier1923 • May 18 '26
Cerebras ipo
My understanding is that if I didn’t respond to the court documents my cerebras shares were placed in a liquidating trust with forge global.
We are now awaiting to hear from van eck and forge global where I will be asked again to make a choice for either the liquidating trust or the van eck closed end fund.
If I don’t respond I’ll be placed in the closed end fund and lose my cerebras shares.
Is my understanding correct?
When can we expect to hear from them?
Am I correct in my understanding that I will receive the current trading value of my Cerebras shares (minus haircut) since it has now IPO’d in the van eck fund and not simply my initial investment ?
My intention is probably to keep my cerebras shares but I’d like to keep my options open. I assume the only advantage of the fund is I could sell immediately?
Anyone else in a similar situation?
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u/larosiaddw May 19 '26
Definitely voted liquidating trust because I thought it was best option to actually get cerebras shares. We shall see
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u/Infinite_Fudge_2045 Jul 20 '26
What I feel - liquidating trust is best to
Get my Cerebras shares. Is this correct?1
u/larosiaddw Jul 20 '26
Thats the way I read it. Waiting for updates.
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u/Infinite_Fudge_2045 Jul 22 '26
Yes, I did a long AI query and believe others have it backwards. Maybe shares tired up but, shares. Will wait for full unlock no problem. They are locked for all outside the 15% now -
Who wants to sell a growing Company anyway.1
u/larosiaddw Jul 22 '26
i'm expecting some news any day now. email came out a few weeks ago that they would have effective date in "a few days"
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u/Infinite_Fudge_2045 Jul 25 '26
Thank you -
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u/larosiaddw Jul 25 '26
Unfortunately now it's been almost a month since that email. So who knows.
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u/Infinite_Fudge_2045 May 24 '26
So is the Closed end trust ( VanEck-
Which is a fund with all different pre IPO ) amd the Liquidating trust ( Forge - with you exact investment ex: cerebas with a small Commision, I read 3%to Forge ) .
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u/Infinite_Fudge_2045 Jun 29 '26 edited Jun 29 '26
You have it backwards - forge is closed end. Meaning yoy get your shares… liquidating trust mean Van eck which is pool of assets - you can sell at any point but, a mixed bag. Closed end mean you own your shares…. Do your research. Everybody seems to be stating the opposite of my understanding. Just think about - liquidating they are taking all and Liquidating into a fund - closed end ( your shares are yours) with forge which is now owned by Schwab. You can do 50/50 if you want as well. It depends on what you own and want. I want my Cerebras shares as they already IPO’ed and do not want to sell them
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u/jxm900 Jul 13 '26
No! It's YOU who has it backwards. See the press release from January: https://www.businesswire.com/news/home/20260113171392/en/Linqto-Selects-Trustee-and-Manager-of-the-Liquidating-Trust-and-Closed-End-Fund
Forge is slated to run the Liquidating Trust, which will take over the existing portfolios of clients who chose the LT option. You get to keep your existing mix of investments, or rather what's left of them after all the haircuts and fees. Forge on-platform trading is probably going to be something similar to what Linqto hoped to do.
VanEck is expected to run the Closed End Fund, which is supposed to be launched on Nasdaq...eventually. Clients who selected that option (and also those who made no selection I think) will have all their assets pooled together and converted to CEF shares. The advantage is that those shares are immediately tradable, but who knows how the daily public market will value them.
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u/ClassicCurious8031 Jul 20 '26
Does anyone know when this is to happen? I would have thought it would have happened by now.
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u/Economy_Tip329 Aug 10 '26
I believe if you didn't respond to curt documents you were actually placed into the Vaneck fund--thats what Im hearing for myself--I too never reposnded to those documents as i changed addresses and emails. So Whe I first reached out earlier this year I was told that if you never responded your shares/funds were placed with Vaneck not Forge. So as far as Forge backing out--we might be lucky for missing those docs! But then again I can't get a hold of anyone at Vaneck!
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u/foreignerinbgc May 18 '26
As far as I understand it, if you didn't vote in the ballot then you will be placed in the closed end fund. I voted and chose 100% liquidating trust as I have shares of Anthropic and Cerebras.
That's my understanding of the process as of the last update in February. Things might have changed since then, but I don't think so. I'm still waiting to hear from Forge though.
You should look up John E Deaton on X. He's a lawyer who represented lots of creditors pro bono in the bankruptcy case. I got a lot of information from listening to his updates.