The Delaware Court of Chancery has extended an order stalling Bolt founder Ryan Breslow’s bid to raise $450 million, characterizing the cram-down round as a “prisoner’s dilemma” for investors. Bolt ...
The Bolt founder claimed a group of investors had signed off on the company’s chaotic $450 million raise, but some said they hadn’t. Now, BlackRock and other investors have moved to stall the round.