Correction, while not technically a discount, they
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Posted On: 05/08/2021 3:08:04 PM
Correction, while not technically a discount, they get the remaining shares need to reach 51% ownership for the cost of $10.5 million.
They have no benefit to buying additional shares on the open market as it would reduce how many they get for their $10.5 million. They are committed to the investment per the agreement regardless of number of shares received.
What the final amount of shares does for us is establish a price per share based on the $10.5 million invested.
They have no benefit to buying additional shares on the open market as it would reduce how many they get for their $10.5 million. They are committed to the investment per the agreement regardless of number of shares received.
What the final amount of shares does for us is establish a price per share based on the $10.5 million invested.
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