Potential Dilution to ShareholdersThis title was in 2 different locations in the last nr.
Potential Dilution to Shareholders
The Company currently has 846,207,227 issued and outstanding Common Shares.
Assuming completion in full of the Private Placement (and assuming for illustrative purposes that the Automatic Conversion occurs on or before August 29, 2020), Appian would beneficially own, or exercise control or direction, over an additional approximately 17,046,184 Common Shares, representing 2.0% of the issued and outstanding Common Shares of the Company (assuming a VWAP of C$0.1173 and CAD/USD of 0.7338). As a result, Appian would beneficially own, or exercise control or direction, over approximately 223,762,518 Common Shares, representing 25.9% of the issued and outstanding Common Shares pro forma.
Potential Dilution to Shareholders
Assuming completion in full of the Private Placement (and assuming for illustrative purposes that the Automatic Conversion occurs on
or before August 29, 2020) and assuming repayment in full of the Credit Facility on June 30, 2023 (and assuming for illustrative purposes the issuance of Interest Payments), Appian would beneficially own, or exercise control or direction over, an additional approximately 146,084,251 Common Shares, representing 17.3% of the issued and outstanding Common Shares of the Company (assuming a VWAP of C$0.1173 and CAD/USD of 0.7338).
...............................................................................................................................................
the key word here is "additional"
is it possible that Appian may end up owning 25.9 % + 17.3% = 43.2% ???
I really don't know how to interpret all of this jargon
anyone out there have a handle on this......cheers