Selling shares · Anduril

How to sell your Anduril stock

Anduril’s valuation has rocketed — from about $30.5 billion in mid-2025 to reported talks around $100 billion in 2026. If you hold Anduril equity, here’s what you have, the defense-sector rules that can limit selling, and the tax.

Status Privately held · Reviewed November 2026

Anduril is a private US defense-technology company — still private as of November 2026, valued at about $30.5 billion in its June 2025 round and reportedly in talks around $100 billion in 2026. This guide is for the Anduril holder.

Independent guide. PrivateTechShares is not affiliated with, endorsed by, or connected to Anduril. This is general educational information for people who already hold Anduril equity. We don’t recommend or endorse any transaction — whether to buy or sell, and on what terms, is entirely your own decision based on your own due diligence. What we do: help you prepare — a clear picture of what you hold, what it may be worth, and the paperwork.

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What you actually hold at Anduril

Anduril equity is typically stock options and, for later grants, RSUs. Options you exercise into shares; RSUs settle on a liquidity event or set date. One thing specific to defense companies: transfer restrictions can be tighter (ownership and national-security considerations), so who can buy your shares may be limited. Check your grant for vested amount, strike, settlement terms and any transfer limits.

Anduril at a glance — the dates that matter to holders

Jun 2025
Anduril raises $2.5 billion at a $30.5 billion valuation, led by Founders Fund.
2026
Reportedly in talks to raise at about $100 billion — more than 3x the prior mark.
Ongoing
Defense-sector ownership rules can constrain who may buy employee shares.

Figures as publicly reported (TechCrunch on the $30.5bn round and the $100bn talks; Sacra). Confirm current status before relying on them.

How Anduril equity turns into cash

Anduril is private, with no open market. Liquidity has come mainly through its large funding rounds (which can include some secondary selling). Because it’s a defense company, transfer restrictions may be tighter than usual — national-security and ownership rules can limit who may buy your shares. Any sale is subject to Anduril’s transfer rules and approvals.

Where holders actually find buyers → A plain-English map of every route — buybacks, tenders, company secondaries, platforms and investor networks.

The decision you’re probably facing

Defense rules can limit who buys — check transferability first. Anduril’s value is rising fast, but a defense company can place tighter limits on share transfers than a typical startup. Before counting on selling (or exercising options and owing tax), confirm whether your shares can be transferred and to whom.

The practical steps: confirm what you hold and any transfer limits, value it at the latest mark, and model the tax of exercising or settling.

The tax reality (US)

Most US startup equity is taxed one of two ways. RSUs are ordinary income when they settle (on a liquidity event or set date), with employer withholding that can fall short at higher incomes; later gains are capital gains. Options cost the strike to exercise and, for ISOs, can trigger AMT — use the ISO/AMT calculator. Selling in a tender or secondary is a capital-gains event on any rise since you acquired the shares. Full method in our methodology.

What to expect on price

A tender has a set price; a private secondary to an outside buyer usually happens at a discount to the last headline valuation — because the buyer takes an illiquid minority stake, and you likely hold common shares worth less than investors’ preferred. See what discount is fair.

For holders

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Work out your Anduril position

Get the numbers straight: what you hold, any transfer limits, what it’s worth at the latest mark, and the tax of exercising or settling. Free tools give you the pieces; the report runs them on your grant.

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valuation estimator · ISO/AMT calculator · US toolkit — $39

Questions people ask

Can I sell my Anduril shares?

While Anduril is private, liquidity has come mainly through its large funding rounds. As a defense company, its transfer restrictions may be tighter than usual — national-security and ownership rules can limit who may buy — so confirm transferability before relying on a sale.

How much are my Anduril shares or options worth?

Value them at Anduril’s latest mark (about $30.5 billion in 2025, reportedly around $100 billion in 2026 talks), adjusted for your share class and strike, with an illiquidity discount while private. Use our estimator as a starting point.

Are there special rules for selling defense-company shares?

Often, yes. Defense companies can impose tighter transfer restrictions for national-security and ownership reasons, which may limit who can buy your shares. Check your grant and the company’s transfer rules before acting.

Sources

We re-verify this page’s facts monthly — they can change between updates. Figures are as reported (November 2026); confirm current status before you rely on them.

More about Anduril: anduril.com ↗ (official site) · funding & valuation data ↗.