Harborside Inc. C.BUDD

Interesting deal...

[889900]

Massive rollback, lowered if dividends get realized.
I can understand the "B" & "C" dividends, but not the "A", why not just forgo them and reduce the rollback ratio.

1)Lineage common shares shall be consolidated and reclassified on a post-Consolidation basis as Subordinate Voting Shares, then the number of underlying shares will be adjusted so that 41.82 shares will be converted into one (1) Subordinate Voting Share.
Upon closing of the RTO, the 75,643,484 Lineage common shares will be consolidated into and reclassified as 1,808,866 Subordinate Voting Shares, and all Lineage convertible securities will be adjusted based on the Consolidation and will become securities to acquire Subordinate Voting Shares.

2)Merger Agreement Includes Three Proposed Stock Dividends to Lineage shareholders to be granted subject to completion of i) the RTO, ii) the Lux acquisition, iii) the Agris acquisition.

Each Series A Special Share will be automatically converted into one pre-Consolidation Lineage common share upon the completion of the RTO and Merger without payment of additional consideration or any further action by the holder. Each Series B Special Share will be automatically converted into one pre-Consolidation Lineage common share upon the completion of the proposed acquisition of shares of Lucrum Enterprises, Inc. d/b/a LUX (the “Lux Acquisition”) without payment of additional consideration or any further action from the holder. Each Series C Special Share will be automatically converted into one pre-Consolidation Lineage common share upon the completion of the proposed acquisition of Walnut Oaks, LLC d/b/a Agris Farms (the “Agris Farms Acquisition”) without payment of additional consideration or any further action from the holder.

Lineage will declare and pay a stock dividend to holders of Lineage common shares as of the record date which is expected to be the business day prior to the closing date of the RTO, in aggregate (a) 44,775,040 Lineage Series A Special Shares; (b) 11,513,581 Lineage Series B Special Shares; and (c) 14,072,155 Lineage Series C Special Shares.