Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The business press is reporting that Softbank failed to capture the best price available for the Arm IPO by issuing at $51. The assertion that Masayoshi Son, the chairman and CEO of Softbank, left money on the table is misconceived. In fact, issuing at the lower price increases Softbank’s fortunes. Ultimately, the cash proceeds generated by selling ten percent of Arm to the public pales in comparison to the financial value of the ninety percent of the stock on Softbank’s balance sheet.
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