RE: Spinco The way I read it, for each Resverlogix Common Shares owned prior to the meeting date, we get one Resverlogix New Common Share, one Resverlogix Class A Preferred Share and one Resverlogix Royalty Preferred Share. However, as part of the arrangement, each Resverlogix Class A Preferred Share and each Resverlogix Royalty Preferred Share will be transferred to Newco in exchange for one Newco Share.
.
Therefore, the 6 to 12% ascending royalties do not go to Newco shareholders, but directly to Newco.
.
Anyone else interpret this differently?