Firmus IPO Collapse Triggers Potential Forced Buybacks for Nvidia and Blackstone
The collapse of Firmus Technologies' $5.5 billion Australian IPO has triggered potential forced share buybacks for major backers Nvidia and Blackstone. The company, which sought a $30 billion valuation, failed to attract sufficient investor demand after raising its price following a deal with Meta. Confidential agreements now require Firmus to either repurchase shares or issue new securities to meet return guarantees, complicating its pivot to private financing or a US listing.