Summary
FTX estate is selling most of its stake in Anthropic for $884 million, with ATIC and Jane Street as major buyers. FTX purchased the stake for $500 million in 2021. Objections to the sales must be filed by April 1. FTX believes it can repay customers in full with the sale of its shares in Anthropic. The estate has no plans to reboot the exchange after bidders fell through.
Key Points
1. The FTX estate filed to sell most of its stake in Anthropic for $884 million, with the largest purchaser being ATIC Third International Investment Company buying 16 million shares for nearly $500 million.
2. Jane Street would buy nearly $100 million worth of shares, while certain funds managed by Fidelity Management & Research Company LLC will buy nearly 1.5 million shares for over $44 million.
3. FTX’s Anthropic stake sits around 8% and has increased in value to over $1 billion based on a 2023 valuation. The bankruptcy judge overseeing the estate’s case gave FTX the go-ahead to unload the company’s stake earlier this year, with the belief that it can repay customers in full partially due to the sale of its shares in Anthropic.