“Assuming a successful inspection and evaluation, the aircraft will be acquired utilizing TMPS common shares. TAS expects to issue to the Seller approximately 6,730,769 shares at a value of $0.52 per share.”
Does this mean Tempus will be issuing approximately $3.5 million worth of shares, and the $0.52 was an estimate value per share at the time of the press release? Would these shares be restricted or immediately available for sale on the market?
A: $3.5 million of shares priced at $0.52 will be issued upon closing.
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