Well, that was fast.
This morning, I analyzed Palantir’s newly published 5th amendment of its S-1 filing with the SEC as it pursues a public direct listing on the NYSE. I called the company “not a democracy” after it added new provisions to create a special mechanism called “Stockholder Party Excluded Shares” that would, in the language of Palantir, allow the company’s trio of founders to “unilaterally adjust their total voting power” at will, now and into the future.
Well, Palantir has now filed a 6th amendment with the SEC just a few hours after it filed its previous amendment, and the company has removed all references to this special mechanism from its SEC filing.
The 19 mentions of “Stockholder Party Excluded Shares” and multiple…