TechFlow News, May 13: According to a report by Axios, Anthropic is cracking down—verbally, at least—on unauthorized secondary-market stock trading. Anthropic previously stated that any sale or transfer of Anthropic stock—or any equity interest in Anthropic stock—without prior approval from the company’s board of directors is invalid and will not be recognized in the company’s books and records. The company then explicitly named eight secondary-market trading platforms, including well-known ones such as Hiive and Forge.
The report notes that Anthropic’s restrictions are not unusual; the complexity lies in the fact that although Anthropic prohibits special-purpose vehicles (SPVs) from purchasing its stock, many SPVs nonetheless claim they can do so. Generally, SPVs may offer indirect investment opportunities via derivatives, and some SPVs themselves are structured as derivatives, enabling them to enter into agreements with authorized holders—making regulatory oversight nearly impossible for issuers. The report adds that while Anthropic has issued strong warnings to potential buyers and sellers, it is unlikely to take substantial enforcement actions. (Jinshi)
