Lightspeed Venture Partners Select sold 1,650,000 shares (1.65M) for $15,099,627.13 across 2 transactions at blended $9.15, while retaining derivative holdings.
Lightspeed Venture Partners Select, a 10% owner, executed 2 separate sales totaling 1,650,000 shares for $15,099,627.13, reducing non-derivative holdings from 1,650,000 shares to 0 while retaining 2,690,640 derivative shares through Lightspeed Opportunity Fund, L.P. The stock has declined 68.0% from its 52-week high of $27.99 and fallen 20.2% over the past 30 days, trading at $8.95 versus the blended sale price of $9.15. The company reported net income of $-116,496,000.00 against latest-quarter revenue of $201,592,000.00, reflecting significant unprofitability despite 31.7% annual revenue growth. The disposition of non-derivative shares alongside maintained derivative exposure warrants attention to whether this reflects shifts in the fund's capital deployment strategy or confidence posture toward the company.