Bolt founder Ryan Breslow in the letter makes a pitch for investors to back the turnaround of the struggling one-click checkout provider.

On Monday morning, Bolt founder Ryan Breslow thanked a group of investors for signing a deal that would reinstall him as CEO of the payments company, which announced plans in August to raise $450 million at an astronomical $14 billion valuation.

“I’m so grateful to announce the support of so many of our key stockholders for the Series F Financing round,” he wrote in an email to shareholders, which went on to list “a few investors who have given us permission to share their names as supporters”: NJF Capital, Stack Capital, Streamlined Capital, Thirdbase Capital, Stonebridge, Montauk Ventures, Daniel Fine, Ash Pournouri, David Spencer, Oleg Tscheltzoff, Steve Ryan, Mike Krilivsky and Bruno Werneck.

For Breslow, whose planned raise and reinstatement as CEO requires the majority approval of preferred shareholders, lining up endorsements from 13 willing to be publicly named was a proud moment — were it not for one problem: some of them had not actually given their support.

“Montauk Ventures has not and does not support the financing,” Philip Krim, the founder of Montauk Ventures and mattress startup Casper, told Forbes. “I am not sure why Ryan included me. He did not have my permission and I do not support this financing.”

“I am not sure why Ryan included me. He did not have my permission and I do not support this financing.”

Pournouri, a music producer and executive, was similarly irked. “Not sure why my name was circulated in this way and I have not yet signed........

© Forbes