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Posted On: 05/20/2021 2:33:20 PM
Post# of 36541
Please take a look at 2 paragraphs I copied and pasted below - does it mean this IPO offering of $50 million represents 2.8% of NGIO (63.4% - 60.6% = 2.8%). If this is the case, does it mean NGIO is worth $1.785 billion? ($50 million divided by 2.8% = $1.785 billion) Am I not understanding something correctly? Thank you so much!
On page 14 of the S1 -
Generex will own at least 60.6% of our Common Stock after the completion of this offering and combined with 300,000,000 million votes provided by its 100,000 shares of Super Voting Preferred Stock, it will have 91.1% of the voting control over us after the offering. As a result, Generex will be able to control the management and affairs of our company and any matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions. This concentration of ownership may have the effect of delaying or preventing a change in control and might adversely affect the market price of our Class B Common Stock. This concentration of ownership may not be in the best interests of our other stockholders.
On Page 22 of the S1
A stockholder owns approximately 63.4% of our Common Stock and will be able to exert a controlling influence over our business affairs and matters submitted to stockholders for approval.
Generex owns approximately 63.4% of our outstanding Class A Common Stock and has 91% of the voting control over us through its ownership of 64,153,151 shares of Common Stock and 100,000 shares of Super Voting Preferred Stock and we will be considered a “controlled company” under the rules of The Nasdaq Stock Market LLC, Generex will have control over all matters submitted to our stockholders for approval, including the election and removal of directors, amendments to our certificate of incorporation and bylaws, the approval of any business combination and any other significant corporate transaction. These actions may be taken even if they are opposed by other stockholders. This concentration of ownership may also have the effect of delaying or preventing a change of control of our company or discouraging others from making tender offers for our shares, which could prevent our stockholders from receiving a premium for their shares. Generex may have interests different from yours.
On page 14 of the S1 -
Generex will own at least 60.6% of our Common Stock after the completion of this offering and combined with 300,000,000 million votes provided by its 100,000 shares of Super Voting Preferred Stock, it will have 91.1% of the voting control over us after the offering. As a result, Generex will be able to control the management and affairs of our company and any matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions. This concentration of ownership may have the effect of delaying or preventing a change in control and might adversely affect the market price of our Class B Common Stock. This concentration of ownership may not be in the best interests of our other stockholders.
On Page 22 of the S1
A stockholder owns approximately 63.4% of our Common Stock and will be able to exert a controlling influence over our business affairs and matters submitted to stockholders for approval.
Generex owns approximately 63.4% of our outstanding Class A Common Stock and has 91% of the voting control over us through its ownership of 64,153,151 shares of Common Stock and 100,000 shares of Super Voting Preferred Stock and we will be considered a “controlled company” under the rules of The Nasdaq Stock Market LLC, Generex will have control over all matters submitted to our stockholders for approval, including the election and removal of directors, amendments to our certificate of incorporation and bylaws, the approval of any business combination and any other significant corporate transaction. These actions may be taken even if they are opposed by other stockholders. This concentration of ownership may also have the effect of delaying or preventing a change of control of our company or discouraging others from making tender offers for our shares, which could prevent our stockholders from receiving a premium for their shares. Generex may have interests different from yours.
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