Problems at Corporate Charities
Tickers: EXFY, RIVN, PATH, BRZE, FRSH, XMTR, BROS, WRBY, and APTM
Dozens of unprofitable IPOs are donating investor dollars to charities, often those affiliated with the founders. The Bear Cave has used the SEC’s Full-Text Search tool to conduct a review of every company that uses “donate” in its S-1 and has a substantive policy of donating investor IPO proceeds to charity. The findings are concerning.
For example, Exp…