Business
Dilution the secret sauce behind Square, Afterpay deal – The Australian Financial Review
Square’s share count has ballooned from 235 million to 523 million since 2015, so another 110 million shares or so for Afterpay…
Arguably then, Square got the better part of the deal to acquire Afterpay for not much more than its average annual rate of dilution of around 48 million new shares per year imposed on equity investors since 2015.
Unsurprisingly, the dilutionary side of…
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