"Crescent Capital, 1.2%, valuation of 24.8 billion, five-year lock-in period.
Meridian Ventures, 1.5%, valuation of 24 billion, three-year lock-in period.
The two companies totaled 2.7%, with a total amount of approximately 624 million US Dollar."
Zhang Qingxue opened the notebook and read the numbers again.
"Including Harrington and Vance's 1.3%, Existing Shares totals 4.0%, and the total amount is approximately 936 million US Dollar.
In addition to the 100 million US Dollar from new shares, the total investment is approximately 1.036 billion US Dollar.
Shareholding ratio--Existing Shares 4.0% plus about 0.47% of new shares, totaling 4.47%."
Lin Shicheng added next to it:
"Mr. Zhao, the agreements with these four Existing Shares companies have been finalized.
Crescent Capital's five-year lock-in period is the longest, and the other three all have three years.
All agreements are clearly stated - not to seek Board of Directors Seat, not to interfere in operations, and SpaceX has the right of first refusal when exiting in the future."
Zhao Chen leaned on the sofa and tapped his fingers on the armrest twice.
4.47% of SpaceX shares, 1.036 billion US Dollar. This number is higher than he expected before coming.
He originally planned to charge about 3%, but now he has collected 1.47% more. This is not a bad thing. SpaceX shares are not too much.
"What's the delivery time?" Zhao Chen asked.
Zhang Qingxue said, "Harrington, Vance and Meridian all agreed to deliver within two weeks.
Crescent asked for three weeks because they needed to go through some internal processes. We agreed."
Zhao Chen nodded. "Okay. Are you ready with the money?"
Zhang Qingxue said:
"The cash on Era Vanguard plus Treasury Bonds still leaves 2.1 billion US Dollar. After deducting this 1.036 billion, there is still about 1.06 billion US Dollar.
The positions of Tesla and Apple remain unchanged. SpaceX's investment does not occupy Henglong's funds and is completely independent."
Zhao Chen stood up and walked to the window.
The night view of Manhattan spread out outside the glass window, and the spire of Empire State Building was lit with white lights.
He remembered what Elon Musk said - "You were willing to invest 5 billion US Dollar when Tesla was in the most difficult time, and hundreds of millions US Dollar when SpaceX had not yet made any money. I should thank you."
Now, he holds 9.88% of the shares of Tesla and more than 4% of the shares of SpaceX.
Two companies, one is changing ground transportation and the other is changing interstellar transportation.
"Aunt Zhang," Zhao Chen turned around,
"Starting next week, keep an eye on the stock price of Tesla. The first quarter report will be released soon, and the production capacity data of Model 3 will also be released.
If the data is good, the stock price will rise. We will not sell and continue to hold."
Zhang Qingxue nodded. "Understood."
Zhao Chen looked at Lin Shicheng again.
"Lawyer Lin, keep an eye on the agreement. Once the delivery is completed, SpaceX's share acquisition will come to an end.
In the remaining time, I need to stay at New York for a few more days to see Market Reaction of Tesla."
Lin Shicheng closed the notebook. "Okay. Mr. Zhao, is there anything else you need me to do?"
Zhao Chen thought for a while. "No more for now. Thank you for your hard work, Lawyer Lin."
Lin Shicheng smiled and stood up to say goodbye.
Zhang Qingxue walked him to the door, then returned to the room and put the documents on the table into Briefcase.
"Xiao Chen, you go to bed early." Zhang Qingxue said.
Zhao Chen nodded. "You should also go to bed early."
The next day.
Zhao Chen signed the last few agreements in Hotel Room.
Harrington, Vance, Crescent Capital, Meridian Ventures --
Four Existing Shares transfer agreements and one SpaceX new share subscription agreement were in a thick pile, and each page required his signature.
He signed for nearly half an hour, and his wrist was a little sore.
Zhang Qingxue checked them one by one to make sure there was nothing missing.
"Xiao Chen, everything is ready."
Zhang Qingxue included the agreement into Briefcase,
"Crescent Capital will make the payment next week, and the other three companies have already made arrangements.
After the completion of the transaction, Era Vanguard holds approximately 4.47% of SpaceX's shares."
Zhao Chen leaned on the back of the chair and rubbed his wrist. "Is Lawyer Lin here?"
Zhang Qingxue glanced at the phone. "It's downstairs. I asked him to come up."
A few minutes later, Lin Shicheng opened the door and came in, holding the iconic Briefcase in his hand.
He wore a dark blue suit and tie today, which was much more formal than usual.
"Mr. Zhao, are you looking for me?"
Zhao Chen pointed to the sofa. "Sit down. I have something to tell you."
Lin Shicheng sat down, opened Briefcase, and took out the notebook.
Zhao Chen said:
"I will be returning to China in a few days. Things at SpaceX cannot stop.
You continue to keep an eye on Existing Shares Dong. As long as someone is interested in selling shares, you can't let him go.
Does anyone else recommend Harrington and David Chen? Keep digging.
There are many early investors in SpaceX, and there are always people who want to exit."
Lin Shicheng was jotting down quickly on his notebook.
"Mr. Zhao, what is the bottom line of the price?"
Zhao Chen thought for a while.
"Anything below the valuation of 25 billion US Dollar can be considered. If the other party asks for more than 25 billion, just tell me and I will make the decision.
In addition, if the other party holds a relatively large number of shares, for example, more than 1%, the price can be relaxed appropriately.
25.5 billion or 26 billion can also be discussed. SpaceX shares are not too much."
Lin Shicheng raised his head. "Is there an upper limit on the shareholding ratio?"
Zhao Chen said, "Yes. No more than 10%. Elon Musk does not want any single shareholder to hold more than 10%. This is his bottom line.
We cannot cross the line. 4.47% is just the beginning. You can receive 7% or 8%, but it should not exceed 10%."
Lin Shicheng nodded.
"Understood. If the amount is less than 25 billion, we will collect it directly. If it exceeds 25 billion, please ask for your instructions. The target is 7% to 8%, no more than 10%."
Zhao Chen stood up and walked to the window.
"One more thing - every time you contact a potential seller, you must first make sure that the other party will not spread the news.
SpaceX's Equity Structure is relatively sensitive, and Elon Musk doesn't want outsiders to know how many chips are flowing in his hands.
When doing transactions here, keep a low profile."
Lin Shicheng said, "Understood. I will contact you through an intermediary and will not come forward directly."
All transactions go to Offshore Structure, and Ultimate Beneficial Owner does not expose Era Vanguard."
Zhao Chen turned around and looked at him.
"Lawyer Lin, thank you for your hard work. I'll leave the SpaceX matters to you."
Lin Shicheng stood up and stretched out his hand.
"Mr. Zhao, don't worry. I will keep an eye on you."
In the afternoon, Zhao Chen went to see Elon Musk again.
This time we made an appointment at Manhattan, a store in the lower town of Cafe, not the Private Club store last time.
Elon Musk arrived five minutes later than the agreed time. Wearing a black sweatshirt and a hat, he seemed to be deliberately keeping a low profile.