John E Deaton
John E Deaton|12月 29, 2025 20:11
REGARDING LINQTO: Mystic Traveler👇 is correct Voting ends on January 26. I’ll personally be voting yes and recommending to those I represent and those who follow me to also vote yes and approve the plan. If the plan is not approved by enough yes votes - most bankruptcy experts predict that we will likely end up in a Chapter 7 liquidation. In a Chapter 7 liquidation, customers will have the shares they’re entitled to sold and only receive a cash payment. But in a liquidation, the shares will likely be sold at a price significantly less than fair market value - and significantly less than customers expect. For example, in June 2025, @Ripple offered $175 per share in a $700M buyback. If your Ripple shares are sold during a liquidation event - I guarantee you the shares do not sell at or near a value of $175 per share. Currently, Forge shows an indicative Ripple valuation at around $154 per share with Hiive at $167. Linqto holds 4.7M shares of Ripple - acquired on behalf of customers. If there is a liquidation 🔥 sale of 4.7M Ripple shares, don’t be surprised if those shares get sold well below $100 per share. From AI: “Forced sales in bankruptcy typically occur at steep discounts compared with fair market value, especially for illiquid private shares. •Buyers in distressed situations demand large discounts because they take on uncertainty, legal clearance risk, and liquidity risk (could take years to monetise). •A realistic range in a distressed sale for illiquid private shares might be 30–60% of fair private-market value, depending on demand, legal constraints, and timing. That’s speculative but consistent with distressed private asset sales.” In sum, IMO, it is an absolute no-brainer to vote yes and approve the plan. Personally, I’m waiting to see who is chosen to manage the CEF & LT before casting my vote. Although I will vote yes and likely select to put the majority of my shares in the LT - I may decide to allocate a percentage of my shares to the CEF. I have not yet decided. I’m waiting for the Supplemental Disclosure identifying the mangers of the CEF and LT. Whether to select the LT or CEF - or choose a combination thereof - is a personal decision and not everyone is in the same financial position as others. I will hold another spaces later this week to discuss the pros and cons and why it may make sense for one person to select 100% in the LT and why another person may want to choose to have some exposure to the CEF. But as Mystic Traveler notes below - if you vote yes but don’t choose either the CEF or LT - all of your shares go into the LT. If you don’t vote at all - all of your shares go into a CEF. I’ll post when the next spaces will take place and it will be recorded.(John E Deaton)
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