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What's your prediction for the Reverse Split. Mine is 1 for 50.
https://www.streetinsider.com/SEC+Filings/Form+PRE+14A+FOXO+TECHNOLOGIES+INC.+For%3A+Jul+31/23529966.html
Hi LGTR, I know I keep coming and going. Last time I posted was in May I believe. Still doing my thing teaching tennis. I'm having a difficult time getting my account back up except on my phone, that's why I'm rarely here plus I'm way too busy. So what's this business about INQR and FOXO? Can you update me please, are we getting a certain amount of shares in exchange for INQR?Thanks, and say hello to Filter for me. I'll be back again soon I figure out my account situation.
$RNVA$ Let's Go!
17k is all that traded? LOL
https://stocktwits.com/Victhestick/message/584624964
Here the facts:
FACT 1. There is in fact a reverse split to be performed by FOXO in order to cure the Notice of Non-Compliance with NYSE continued listing requirements.
Fact 2. There is no way given the share structure of RNVA 40,551,322,257 versus the share structure of FOXO 13,631,554, that RNVA will receive FOXO shares on a one to one basis given that FOXO recently filed 14-a indicates that they will amend their share structure to 2,000,000,000 common shares.
Fact 3. There is no guarantee that common shareholder will be allowed any legacy ownership in the new combined entity and even if FOXO does decide to reserve any common for RNVA shareholders, it may only be a small percentage of the company that may or may not preserve RNVA's shareholders relative ownership. In other words, just because a RNVA shareholder owns 2 billion shares, does not mean that they will be given legacy ownership in the surviving ticker share. Surely, you can see that as being problematic insofar as the total authorized shares that FOXO is amending its articles of incorporation is for only 2billion share for common, amended from 500 million.
All of the information referenced above is readily available for anyone to verify in terms of the filings for this combination.
But I am a nice guy and I will help you with one of the key sources for the notion that you RNVA shareholder are likely on the chopping block worst case, and best case might just eek out a modicum of shares in the surviving ticker post uplist.
https://www.streetinsider.com/SEC+Filings/Form+PRE+14A+FOXO+TECHNOLOGIES+INC.+For%3A+Jul+31/23529966.html
9. To approve and adopt a proposal to amend our Certificate of Incorporation to increase the number of authorized shares of capital stock (the “Authorized Increase”) from 510,000,000 shares (consisting of 500,000,000 million shares of Common Stock and 10,000,000 shares of Preferred Stock) to 2,010,000,000 shares (consisting of 2,000,000,000 shares of Common Stock and 10,000,000 shares of preferred stock);
Foundational notes:
The shareholders of the acquiring (FOXO) company typically exchange their shares for shares in the target (RNVA) public company which has the operating assets. The exchange ratio determines how many shares of the target company they will receive for each share they own typically derived from those shares allocated to common shareholders on a pro-rata basis where the acquiring company has made provisions to do so.
Ownership Shift: The shareholders of the acquiring company generally receive a smaller percentage of shares in the combined entity, leading to a transfer of control to the shareholders of the target company (which is the larger company). Shareholders in the acquired company my only receive warrants at a greatly reduced ownership structure in order to remain under the surviving entities smaller share structure.
The shares of the acquirer usually remain listed on the exchange, and the combined entity will trade under the surviving company’s ticker symbol (FOXO).
AI
