RE:RE:RE:RE:RE:RE:Couple of Director purchases days before Rights deadlinebiz, during the last 2 to 1 Rights Offering in December 2018, GSFC had a Backstop Agreement with Krn, contractually allowing them to subscribe to any remaining Rights that shareholders did not exersize. I agree that was peculiar, but it was by design to offer GSFC a stamp on control, in return for those who thought they were going to advance the nitrogen idea with the proceeds according to CSG affidavits
That control boosted GSFCs share holdings to a whopping 16 million shares, making them essentially untouchable at the AGM.
I believe that option still exists for any shareholder that exersizes their Rights this time as well, but it is not guaranteed to be fully subscribed through a Backstop Agreement.
This time I would be shocked if more than 50% of the Rights were subscribed, and even more shocked if GSFC exersized any more shares than the minimum this time around, as they simply dont need to in order to keep both voting and board control.