They thought they were joining an accelerator — instead they lost their startups How Newchip’s bankruptcy threatened the cap tables of thousands of startups
Lacey Hunter thought all was well as she put her startup through the three-month Newchip accelerator. Then the organization filed for bankruptcy in May 2023. Things went from bad to worse later that year when she discovered warrants of her company — rights to buy an ownership stake — had become part of the proceedings, which ultimately forced her to shut down her company.
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