When the SPV exits in the case of an IPO, we’ll need to wind the SPV down.
The process of winding the SPV down in the case of an IPO is shown below.
The target company engages with a transfer agent to distribute the shares. At this stage, you can choose to either transfer the shares to a brokerage account in the name of the SPV or to sell the shares.
Selling shares at this stage is usually quite expensive and therefore we recommend transferring the shares to a brokerage account. Vauban has partners who can help at this stage, but of course, you’re free to choose any brokerage firms of your choosing.
Once the shares have been transferred to the SPV brokerage account, you can choose to liquidate the account or transfer the shares to the investor's brokerage accounts.