Reverse mergers involving public companies that have existing/active operations, assets and liabilities (like VODG), can be somewhat more complicated than RMs involving relatively clean shells.
A number/variety of legal and logistical factors could impact exactly how a VODG RM would be handled and structured. For example, in some situations the incoming private company might have an interest in purchasing the CEO's shares. Or as part of the transfer of existing operations out of VODG, the CEO could voluntarily return his personal shares to treasury for cancellation or future use by the new company.
But generally speaking, most reverse merger scenarios involving VODG probably would not require the private company to purchase any shares of VODG. Newly-issued shares of VODG would be given to the private company to complete the reverse merger transaction. Using a general rule-of-thumb for reverse mergers, current shareholders of VODG would probably retain about 3-10% ownership of the new company.
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