Tech IPO Conversations with Fexingo: Public Software Companies and Capital Markets

When a post-IPO company discovers an employee used confidential AI training data against policy, do they have to wait for the next quarterly trading window to claw back equity? Lucas and Luna examine how companies like Meta and Apple handle insider trading restrictions in the wake of AI trade-secret disputes, using the July 2026 Apple-OpenAI lawsuit as a case study. They walk through the mechanics...

Episode 103 of Tech IPO Conversations with Fexingo dives into the mechanics and messaging of post-IPO stock buybacks. Lucas and Luna examine how newly public tech companies deploy share repurchase programs to signal undervaluation and offset dilution. They anchor on recent buyback announcements from companies like Airbnb and Shopify, and discuss why the timing of a buyback matters more than the do...

In this episode, Lucas and Luna explore how newly public companies are turning to algorithmic trading to manage their own stock price. They dive into how firms like Snowflake and Rivian use automated buyback programs to stabilize shares during volatile periods, referencing recent data showing Meta's stock up 8.3% in five days and Coinbase down 4.3%. They discuss the mechanics of algorithmic execut...

Lucas and Luna explore how post-IPO companies analyze their own earnings call transcripts for tone and sentiment, using natural language processing to gauge market reception. They discuss why a single negative phrase can swing a stock, how companies like Meta and Nvidia use these tools, and the risks of over-optimizing for 'positive vibes.' With specific references to recent earnings seasons and t...

In the milestone 100th episode, Lucas and Luna explore how newly public companies use secondary offerings — selling additional shares after the IPO — to raise capital, fund acquisitions, or allow early investors to cash out. Using recent examples like Rivian's $1.5 billion secondary in March 2026 and Airbnb's $650 million offering in April, they break down the mechanics, the signals it sends to th...

In this episode of Tech IPO Conversations, Lucas and Luna explore how post-IPO companies have shifted from manual stock buyback execution to algorithmic trading programs. Using real-world examples, they explain how firms like Apple and Meta use volume-weighted average price (VWAP) algorithms to repurchase shares efficiently, minimize market impact, and save millions in execution costs. The convers...

Lucas and Luna explore the growing trend of post-IPO companies hiring algorithmic market makers to stabilize their stock. They discuss how firms like Citadel Securities and Virtu Financial use high-frequency trading algorithms to narrow bid-ask spreads and reduce volatility, using recent examples from Palantir and Coinbase. The hosts break down the mechanics of liquidity provision agreements, the...

Episode 97 of Tech IPO Conversations dives into at-the-market (ATM) offerings — the low-profile capital-raising tool that lets public companies sell shares directly into the market over time. Lucas and Luna break down how companies like Palantir and Coinbase have used ATMs to raise billions without the drama of a secondary offering, and why the strategy is having a moment in mid-2026. They explore...

Episode 96 of Tech IPO Conversations dives into restricted stock unit (RSU) acceleration clauses—a retention lever post-IPO companies use when key talent threatens to leave. Lucas and Luna discuss how acceleration triggers (change-of-control, performance-based, discretionary) work, why they surged after the 2023-2025 tech corrections, and how companies like Palantir and Rivian have employed them a...

In this episode of Tech IPO Conversations, Lucas and Luna explore how newly public companies are deploying AI to monitor employee trading activity and flag potential insider trading violations before they become SEC problems. They discuss the rise of automated surveillance tools that scan brokerage accounts, communication patterns, and trading windows, using real examples from recent enforcement c...

In this episode of Tech IPO Conversations, Lucas and Luna explore how recently public companies are using a sophisticated financial tactic called synthetic share repurchases. Instead of buying back shares on the open market, firms enter total return swaps with banks to effectively reduce their share count without triggering insider trading restrictions or disclosing large buyback plans. Lucas expl...

In this episode of Tech IPO Conversations, Lucas and Luna explore how newly public companies are quietly using stock lending programs to generate incremental income from their own shares. They discuss how companies lend shares to short sellers through custodians, earning fees that can offset administrative costs or fund share buybacks. Lucas walks through a concrete example: a post-IPO company wit...

In this episode of Tech IPO Conversations, Lucas and Luna explore how post-IPO companies are using employee stock purchase plans (ESPPs) to retain talent and align incentives after going public. They discuss the mechanics of ESPPs—typically offering a 10-15% discount on company stock through payroll deductions—and why these plans have become a key tool for managing dilution and employee motivation...

In Episode 91 of Tech IPO Conversations, Lucas and Luna explore how recently public companies are using convertible note hedging—specifically capped call transactions—to manage dilution and reduce the cost of capital. They anchor the discussion on a recent example from Palantir, which saw its stock jump 14.5% in the past week to $129.30, and discuss why firms like Tesla and Rivian have also employ...

In this episode of Tech IPO Conversations, Lucas and Luna explore how post-IPO companies are increasingly using staggered lockup expirations to prevent the stock-price cliff that often follows a standard lockup. Using recent data on companies like Palantir and Rivian, they discuss the mechanics of phased lockups, the signals they send to markets, and why investors should pay attention to the locku...

Episode 89 of Tech IPO Conversations digs into the mechanics and strategy behind lockup expirations for post-IPO companies. Hosts Lucas and Luna explore why lockup periods exist, how companies and early investors approach the end of the lockup, and what it means for retail shareholders. They use Rivian's 2021 IPO and its lockup expiration in 2022 as a concrete case study, referencing Rivian's rece...

In this episode of Tech IPO Conversations with Fexingo, Lucas and Luna explore the growing trend of direct listings for post-IPO companies. Unlike traditional IPOs, where investment banks underwrite shares and set the opening price, direct listings allow companies to list on exchanges without intermediaries. Using recent examples like Spotify, Slack, and Coinbase, the hosts explain how direct list...

Episode 87 of Tech IPO Conversations dives into how recently public companies manage insider selling windows. Lucas and Luna use the recent 5-day surge in Coinbase (up 11.3%) and Robinhood (up 18.6%) to frame the conversation around lockup expirations and 10b5-1 plans. They discuss how companies like Palantir (up 15%) use structured insider trading programs to avoid negative signaling, and contras...

In this episode of Tech IPO Conversations, Lucas and Luna examine a subtle but powerful tool in the post-IPO playbook: insider selling windows. They discuss how companies like Bending Spoons, which surged 40% on its first trading day on July 1, 2026, lock up employees and then schedule windows for selling shares. Lucas explains the mechanics of lockup agreements, Rule 10b5-1 plans, and how seconda...

In this episode, Lucas and Luna explore the strategy of pre-announcements—companies voluntarily disclosing key earnings metrics days or weeks before the official call. With examples like Shopify and Roblox, they discuss how pre-announcements reduce guesswork, influence analyst estimates, and can backfire. They also tie in current data: Roblox's stock surged 24.9% in the past five days, partly due...

Episode 84 of Tech IPO Conversations explores how recently public companies like Wayve use employee tender offers to let staff cash out equity without waiting for a traditional liquidity event. Lucas and Luna discuss the mechanics of these secondary sales, why they're popular in the current market, and what the $85 million tender at an $8.5 billion valuation tells us about post-IPO compensation st...

In this episode, Lucas and Luna explore how post-IPO companies are increasingly using AI to draft their earnings call scripts. They discuss the rise of AI-generated narratives, the risks of sanitized language, and the fine line between consistency and spin. With specific examples from recent earnings calls, including a notable case where an AI-written script accidentally revealed too much, they ex...

In Episode 82 of Tech IPO Conversations with Fexingo, Lucas and Luna dive into a controversial trend sweeping post-IPO software companies: using generative AI to draft quarterly earnings scripts. With NVIDIA, ticker symbol N-V-D-A, down 2.5% over the past five days, the hosts examine how companies like Roblox, ticker R-B-L-X, which surged 15.3%, are leveraging AI to control narratives and manage i...

Episode 81 of Tech IPO Conversations digs into the mechanics and strategy behind reverse stock splits for post-IPO companies. Lucas and Luna break down why some newly public firms—especially in biotech and SPACs—resort to reverse splits to stay listed on Nasdaq or the NYSE, using real examples from mid-2026. They discuss the stigma, the math, and whether it ever actually works. With ARKG up nearly...

Episode 80 of Tech IPO Conversations explores how recently public companies are deploying AI to forecast quarterly revenue with unprecedented accuracy. Lucas and Luna examine the rise of machine-learning models that analyze internal sales data, customer behavior, and macro signals to produce tighter guidance ranges — and what that means for analysts and investors. They look at a real-world example...