[quantified]

Post-IPO they would ordinarily become options to buy the same number of shares. If the company was acquired before then, all bets are off. Extremely likely that investor preferences will consume some of the value in preferred shares, maybe well cash off the top too.

From a tax perspective, you’d want to purchase them pre-IPO and hold onto them until long-term gains kick in. But don’t do that until you have a good reason to believe it is imminent, and only if you can afford to gamble with the money.

[slucha]

Thanks makes sense. The tax on excersising the options post IPO is brutal