They Doubled the # of NK shares to be issued
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There is really a lot of info in the prospectus. I note that they amended the # of common shares to be issued from 100mil to 200mil the # of preferred shares stayed @20mil. Think that means the demand is much greater than originally planned or why double the # of shares? also, how does that and the stock split affect SRNE's % of ownership? SRNE has 85%+ more shares now, I guess to make up for this?
ORIGINAL ARTICLE IV
Classes of Stock. The total number of shares of capital stock that the Company shall have authority to issue is 120,000,000, consisting of 100,000,000 shares of Common Stock, $0.0001 par value per share (“Common Stock”), and 20,000,000 shares of Preferred Stock, $0.0001 par value per share (“Preferred Stock”).
AND THE AMENDED
5. Article IV of the Certificate is hereby amended and restated in its entirety to read as follows:
“Upon the effectiveness of this Certificate of Amendment, each outstanding share of Common Stock or Preferred Stock of the Corporation shall be split into 1.8515 shares of Common Stock (the “Forward Split”). The Forward Split shall occur automatically without any further action by the holders of the shares affected thereby and whether or not the certificates representing such shares are surrendered to the Company.
After giving effect to the Forward Split, the total number of shares of stock that the Corporation shall have authority to issue is Two Hundred Twenty Million (220,000,000), consisting of Two Hundred Million (200,000,000) shares of Common Stock, $0.0001 par value per share, and Twenty Million (20,000,000) shares of Preferred Stock, $0.0001 par value per share
