The once-trendy, San Francisco-born coffeeshop chain Philz Coffee has struck a deal to be sold off to a private equity firm for $145 million, but any employees who bought stock are getting the shaft, as they won’t see a penny of that money.
  • NoneOfUrBusiness@fedia.io
    2·
    5 days ago

    Creditors, bondholders and preferred stock holders are ahead of them in line.

    I can’t believe capitalism still keeps surprising me with how fucked up it is.

    It’s not clear to me if they were actually ownership shares or just options against the possibility of the company going public at some point in the future.

    See above.