Palantir’s ‘Win-Win’ Proposition: Palantir has been forging unique relationships with startup companies, using the investment route to bring them under its client umbrella.
Palantir has entered into agreements to purchase shares of entities, including SPACs and/or other privately-held or publicly-traded entities, the company revealed in the 10-Q filed with the SEC last week.
As of June 30, the company has outstanding commitments to purchase 25 million shares for an aggregate purchase price of $250 million, the company said.
Among the companies Palantir invested in are Lilium, Sarcos Robotics, Roivant Sciences, Celularity, Wejo, Babylon Health, Boxed, Pear Therapeutics and two unnamed companies, identified as focusing on mobility and autonomous vehicles.
Each investee or an associated entity has entered into a commercial contract with Palantir for access to the latter’s products and services. The maximum potential revenue from these commercial contracts is $428 million, the company revealed.
Additionally, from July 1 through the date of filing of the 10-Q, the company has landed four more investment deals involving the purchase of 6,000 shares for an aggregate price of $60,000.
These investments, apart from cementing Palantir’s client relationships, also give the company exposure to some hot-and-happening emerging technologies.
Palantir’s Golden Bet: Palantir also revealed in the filing that in August it purchased $50.7 million worth of 100-ounce gold bars.
“Such purchase will initially be kept in a secure third-party facility located in the northeastern United States and the Company is able to take physical possession of the gold bars stored at the facility at any time with reasonable notice,” the company said.
In another quirky turn of events, Palantir told Bloomberg that it is preparing for another “black swan event” and inviting customers to pay for its data analysis software in gold.
At market close Tuesday, Palantir shares were down 2.16% at $23.97.
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