The earliest-stage share class in Terafab Holdings, with the highest potential upside and the highest risk. Founders Shares are for investors comfortable holding through a long build-out with no income along the way.
Each Founders Share is a fractional share in Terafab Holdings LLC held at the earliest stage of the fab's life. There are no dividends; the whole return depends on the long-term value of the enterprise. This class has the longest holding period and the widest range of possible outcomes.
Share value is marked quarterly against an independent valuation of Terafab Holdings, the same valuation used for every share class, and published in full to holders. Because of the long horizon, the mark can swing meaningfully between milestones.
Founders Shares don't mature. After a 12-month minimum hold you can list them on the internal secondary market. Liquidity depends on buyer demand at the time and is not guaranteed, and may be thinner than for other classes.
Purchased and redeemed entirely in BTC or USDT. Your position size is tracked in CAD-equivalent at the time of purchase; the crypto you fund with does not need to be the same asset you eventually withdraw to.