The plan is to give existing shareholders either
1. Shares (which at the end of the reorg will represent about 4.6% of the reorganized company) plus 2 sets of warrants at different prices; or
2. Cash in lieu of 1 above.
Existing shareholders will be required to select which of those two options they prefer. The cash out option is contingent on the company being able to raise enough cash from the key holders that participated in the rights offering to buy out the remaining shareholders.
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