TLDR:
- Bolt Financial plans to raise $450 million at a $14 billion valuation.
- The company threatens legal action against main investor, Silverbear Capital, due to a miscommunication.
Bolt Financial, a payments unicorn, shocked investors with its $450 million fundraising plan at a $14 billion valuation. CEO Justin Grooms recently sent an email threatening legal action against Silverbear Capital, a lead investor in the round, citing internal miscommunication. This confusion has left investors reeling, especially after Bolt’s ultimatum to invest or risk losing equity. Silverbear Capital denied involvement in the deal, leading to further chaos and uncertainty among investors. Despite ongoing discussions and updates, the situation remains tense as Bolt continues to raise funds amidst financial losses and layoffs. Stay tuned for more developments on this unfolding story.
