RE:There should be close to 75,000,000 shares of TPRThe total o/s shares of TPR @ March 31, 2023 was 101,454,310. If you add in the o/s options it was 108,154,310. Atlas owns 22.6% of the current fully-diluted number (27,452,974). So, pre-tax distribution of $500M would be about $113 million.
The 51,200,000 shares you reference includes those that were spun out to SALT shareholders as dividend in kind. So, that makes the split 27,452,974 / 23,747,026 TPR shares owned by Atlas & Atlas shareholders, respectively.
The remaining shares above the 51,200,000 were founders shares issues @ 2 cents and the various private placements issued at 5 - 20 cents since last September.