The IPO (Initial Player Offering) is a second-price auction, where the highest bidder pays $0.01 more than the second-highest bid. For example, if you have the highest bid of shares of Lamar Jackson for $14, and the second highest bid is $10, then you would pay $10.01 per share.

IPO Basics

The IPO window opens 24-48 hours prior to the start of the event, and closes 30 minutes prior to the start. While the IPO window is open, users place bids on shares of players—indicating both the price and number of shares. Each bid you place is a maximum bid, or the most you are willing to pay per share. Most of the time, you will pay less per share than your bid.

When you place a bid, the maximum cost (bid * number of shares) will be held as pending in your account.

You may place as many bids on as many shares of as many players as you want, as long as you have enough dollars (for market events) or chips (for contest events) available to trade.

Note that once an IPO bid is placed, it may not be edited or cancelled.

When The IPO Ends

When the IPO window closes, shares are distributed to the winning bidders. The IPO share price paid is the minimum price with enough bids to cover all available shares. In the event that multiple users have placed the same bid on a player, the user who placed the bid first is awarded the shares.

Any unallocated chips or dollars from non-winning bids will be released back to users at the conclusion of the IPO.

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