1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
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1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Capital Structure
3. Valuation
Discussion
Symbol
VG
Event Date
2025-01-24
Sector
Utilities
Subsector
Gas Utilities
Offer Range
—
Shares Offered
70M
2.04B
—
Implied Upside vs Midpoint
$00.00Description
—
Post-IPO economic shares by class.
| Class | Shares | % Economic |
|---|---|---|
Class A Common Stock lower voting rights; issued to public in IPO and to non-VG-Partners pre-IPO shareholders (84,272 pre-split Class A, post-split converted); 70M new shares sold in IPO | 70M | 3.4% |
Class B Common Stock super-voting rights; held by VG Partners (controlled by co-founders Michael Sabel and Robert Pender); converted from all 435,500 pre-split Class A shares held by VG Partners via Stock Split immediately prior to IPO; VG Partners controls company post-IPO | 1.97B | 96.6% |
| Total economic shares | 2.04B | 100% |