Anthropic finalizes tender offer, while employees retain their shares.

Employees at Anthropic have sold a portion of their equity to investors, completing a secondary share sale that began earlier this year, according to sources familiar with the situation. However, some investors couldn’t acquire as many shares as they had hoped due to the limited quantity that employees were willing to sell.

The tender offer took place at the same valuation as the company’s most recent fundraising round in February, said sources who requested to remain anonymous due to the sensitive nature of the information. The company was valued at $350 billion in its latest funding round, excluding the $30 billion it raised.

Anthropic chose not to comment.
The total value of the share sale, which concluded last week, remains undisclosed; however, it was less than the amount investors had anticipated, which was as high as $6 billion, according to some sources. Current and former employees preferred to retain a larger portion of their shares in anticipation of Anthropic’s forthcoming initial public offering, which is expected later this year.

While some investors secured their full allocation in the deal, others were only able to use a portion of the funds they set aside for the tender offer.

The smaller-than-anticipated transaction indicates a level of optimism among employees regarding the company’s future, particularly as its annualized revenue increases, according to one source. Last month, the company reported over $19 billion in annualized run-rate revenue. By April, Anthropic announced that it had surpassed $30 billion in run-rate revenue.