RE:RE:Consolidation
Kadiddelhopper wrote: Such an amount of legaleze, I have no idea what they are doing with these 18 cent receipts. Anyways ..holding 10000 ATU @ .34 cent cost...whether thats to my detriment or otherwise, will find out eventually i suppose..
Layman language anyone?
The announcement today confirmed that the private placement has closed. The shares and warrants from the placement are now held in escrow, pending the vote held at the Special Meeting to be held on October 7th.
If the Change of Management; Share Consolidation; and Name Change Resolutions are voted for at the upcoming Special Meeting and everything passes, the escrow conditions will have been met.
At some point after the meeting - most likely within the week, the private placement shares and warrants will be added to the share capital and available for trading (although the shares will have a four month hold period until some time in February 2022).
At some point after this the shares outstanding will be consolidated, including the private placement shares. The warrants may or may not be consolidated.
If they are consolidated, the exercise price will be consolidated as well. If they are not consolidated, then the number of warrants to purchase a share will be at the consolidation ratio. For example, if the shares are consolidated at a 10 old to one new ratio, it will take 10 warrants to buy one share at ten times the pre-consolidation strike price.
Trust this helps.