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> The Episerver acquisition is indeed a bad exit, and I think I will lose >$100k in stock I exercised

Based on what information? So far, all that's been publicly confirmed is that the sale price was below $600M, which presumably leaves opportunity for your shares to be worth something.

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GP probably got information about the share price offered from current employees and did the math. Once the acquisition is finalized, they'll receive more details since they are a shareholder.

Employees don't know share or exit price yet. Won't be announced for a few more months.

However, if the OP is speaking the truth about the timeframe he got shares from, he is guaranteed to be up. There are definitely people who lost money on this deal, but definitely not Series A people.

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