PANews reported on December 8th that, according to Bloomberg, Ripple completed a sale of approximately $500 million (valuing the company at approximately $40 billion) in November . Investors included Citadel Securities, Fortress, Marshall Wace, Brevan Howard, Galaxy Digital, and Pantera. Some investors assessed that about 90% of Ripple's net assets came from its holdings of XRP (valued at approximately $124 billion in July, with locked shares being released in batches). The agreement included protective clauses: investors could sell back the shares within 3-4 years at an annualized return of 10%; if Ripple chose to repurchase, the annualized return would be 25%. A liquidation preference was also included. XRP has fallen approximately 16% since October 31st, and more than 40% from its July high; as of Sunday, Ripple's XRP holdings were valued at approximately $83.3 billion, higher than the valuation in this round of financing. Ripple stated that it has no IPO timetable.