ServiceTitan could be the first of many dirty termsheet IPOs, VCs believe | TechCrunch
News Source : TechCrunch
News Summary
- ServiceTitan agreed to a “compounding” IPO ratchet structure
- For every quarter ServiceTitan delayed going public after a deadline of May 22, 2024, the company would owe the Series H investors even more stock
- The company had agreed to ratchet terms ( albeit not compounding) twice before
When ServiceTitan filed documents last week for its IPO, hoping to have its debut before the end of 2024, the tech world wondered if a stuck IPO market was unlocking at last.Alas, probably not.Bu [+5045 chars]