OpenAI's arrangement with SoftBank allows employees to sell shares at $210 each, reflecting its soaring valuation of $157 billion post-fundraising.
The tender offer enables current employees to sell up to $10 million worth of stock, while former employees may only cash out partially.
SoftBank will buy as much as $1.6 billion in stock from eligible shareholders, prioritizing current staff in case of oversubscription.
Employees and former staff are guaranteed to cash out at least $2 million of their stock under OpenAI's agreement.
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