Cross-border payments and cryptocurrency firm Ripple Labs is set to buy back $285 million worth of shares from early investors and employees in a tender offer, valuing the company at $11.3 billion. Ripple plans to spend $500 million on the buyback to cover the conversion of restricted stock units into shares and taxes. Despite a partial win in its legal battle with the U.S. Securities and Exchange Commission, Ripple’s CEO, Brad Garlinghouse, mentioned that the company has no immediate plans to go public in the U.S. due to regulatory uncertainty.
Ripple to Buy Back $285 Million of Its Shares, Valuing Company at $11 Billion – Sources
