RE:RE:Deb Holders Upset
Yes according to the prospectus no one can own over 49% of company except the backstopper. A Rightsholder that exercises Rights is deemed to represent and warrant to the Company that the exercise of any of its Rights will not result in a Note Indenture Change of Control (as defined herein) due to it having beneficial ownership, directly or indirectly, or control of more than 49% of the Common Shares. If the representation and warranty is breached by the Rightsholder, the Rightsholder unconditionally agrees that the portion of the Rights exercised that would entitle the Rightsholder to receive more than 49% of the Common Shares will be null and void and result in the cancellation of any such Rights immediately before the Rights Expiry Time. Any Rights cancelled as a result of the foregoing will be taken up in accordance with the Additional Subscription Privilege or the Equity Backstop Agreement, as applicable. See "Details of the Offering Subscription Basis" and "Details of the Offering How to Complete a Rights Certificate To Represent Exercise of Rights Will Not Cause a Change of Control Form 5". JMHO