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Posted On: 09/29/2021 10:05:05 AM
Post# of 36552
I also think that it is not in the interest of GNBT to screw long term shareholder or their ownership of NGIO. However, for the moment, I read this:
Automatic Conversion. On the date that is 18 months from the IPO Date, all of the outstanding shares of Class A Common Stock will be automatically converted into a number of shares of Class B Common Stock equal to the product obtained by multiplying the Conversion Rate on such date by the number of shares of Class A Common Stock outstanding on such date.
“Conversion Rate” means for any date of calculation, the quotient obtained by dividing the Class A Price for such date by the Class B Price for such date.
Automatic Conversion. On the date that is 18 months from the IPO Date, all of the outstanding shares of Class A Common Stock will be automatically converted into a number of shares of Class B Common Stock equal to the product obtained by multiplying the Conversion Rate on such date by the number of shares of Class A Common Stock outstanding on such date.
“Conversion Rate” means for any date of calculation, the quotient obtained by dividing the Class A Price for such date by the Class B Price for such date.
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