FTE Networks Inc (fka FTNW)

[Ed Ajootian]

Flip2, FTE issued a bunch of stock to the sellers but not enough to make this a reverse merger. A reverse merger happens when the stockholders of the acquired company end up with more than half of the combined company. Here, the Benchmark shareholders ended up owning a little under 40% of the combined company (counting their convertible notes as being converted into stock).