A leaked document reveals that AragonProject in June explored selling itself to an undisclosed bidder for an unknown price, following months of pressure from activist investors eyeing its $180M treasury. realdannynelson reports
The CEO of Patagon, Diogenes Caseres, said his firm compiled the report after Aragon expelled the activist investors from its Discord server. Patagon shared it in a community-run server where the banned investors congregated.
Both sides have refused to comment on the situation since May. But the Arca screenshot contained in the report, which CoinDesk verified was authentic, shows that negotiations continued into the summer. Two other activist investors declined to comment on the report ahead of an upcoming meeting with the Aragon Association.
While it is unclear what exactly it would mean to sell a nominally decentralized project, the proposed transaction would be valued at a premium to book value, the Arca employee told fellow activists.
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