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  "documentTitle": "GSX Techedu (GSX)",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-02-25 00:00:00",
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  "notes": "The slide uses data from the company's prospectus to argue that the offering was a liquidity event for insiders rather than a capital raise for the company.",
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      "text": "According to the prospectus filed in November 2019, insiders and former shareholders have been selling shares aggressively.",
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      "text": "Sales Proceeds: $252 million",
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      "text": "According to the prospectus filed in November 2019, insiders and former shareholders have been selling shares aggressively. GSX did not sell any new stocks and all the 18 million ADSs were from its existing shareholders with an aggregate of $252 million.",
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      "text": "Source: Prospectus, page 139",
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      "text": "9. Existing Shareholders Are Selling and Co-Founders Are Leaving the Company",
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