BlackRock's Restraining Order Halts Bolt's $450 Million Fundraising Round

BlackRock, along with Hedosophia and Untitled Ventures, has taken a drastic step to stop Bolt's $450 million Series F funding round, filing a restraining order against the fintech company. This move comes amidst a heated dispute between Bolt's CEO, Ryan Breslow, and several investors, including BlackRock, over the terms of the deal.

BlackRock and Other Investors Claim Coercion

The restraining order application argues that Bolt is engaging in "coercion" by pressuring investors to accept the new terms or risk losing their existing investments. This forceful approach, according to the investors, has led to a sense of unease and distrust within the investing community.

• BlackRock, Hedosophia, and Untitled Ventures claim Bolt is forcing them to pay millions of dollars for new stock or risk losing their existing investments.
• The investors believe that Bolt's aggressive fundraising tactics are manipulative and unfair.

Ryan Breslow's Push for $450 Million Funding

Ryan Breslow, Bolt's CEO, is actively trying to push through this $450 million fundraising round, which would value the startup at a whopping $14 billion. This ambitious move, however, has been met with fierce resistance from several investors, including BlackRock.

The Role of BlackRock in the Drama

BlackRock, one of the world's largest asset management companies, has played a key role in this unfolding drama. The company's decision to file a restraining order highlights the severity of the conflict and the extent of the investor's concerns.

Bolt's Response to the Restraining Order

Bolt has declined to comment on the restraining order or the ongoing dispute with investors. This silence further adds to the mystery surrounding the situation and leaves many questions unanswered.

Investor's Opposition to Breslow's Leadership

The dispute over the fundraising round is not just about the money; it also reflects investor concerns over Ryan Breslow's leadership. The restraining order, filed by BlackRock, Hedosophia, and Untitled Ventures, signals a lack of confidence in Breslow's ability to steer Bolt towards a successful future.

• Some investors question Breslow's financial management and decision-making.
• The controversy has cast a shadow over Bolt's reputation and its potential for future success.

The Future of Bolt Remains Uncertain

With the restraining order in place, Bolt's $450 million fundraising round is currently on hold, leaving the fintech company's future uncertain. This conflict exposes a deep rift between Breslow and several influential investors, including BlackRock.

• It remains unclear whether Breslow will be able to regain the trust of investors and secure the necessary funding.
• The outcome of this drama could have a significant impact on Bolt's growth and trajectory.