Private-wealth clients of Goldman Sachs bought Uber debt in 2015 that would convert into stock at a discount to the eventual Uber IPO price. The discount now stands at 40%.
Wealthy clients of Goldman Sachs Group Inc. will emerge with deeply discounted stakes in Uber Technologies Inc. when it goes public this week, placing them among the biggest winners in a deal full of them.
In 2015, Uber raised $1.6 billion from Goldman’s private-wealth clients by selling them debt that would convert into stock at a discount to the eventual IPO price. The discount grew the longer Uber stayed private and now stands at 40%, including accrued interest, according to investor documents and people familiar with the...
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