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Re: thelionwarrior post# 5099

Saturday, 12/29/2018 1:53:35 PM

Saturday, December 29, 2018 1:53:35 PM

Post# of 37346
so, you have demonstrated some ability to read with little ability to comprehend that which you have read. lol

neither newco nor your reference to a "60 day rule" were put in there for the fun of it. so, why where they there?

newco is the name of a new entity which would be formed in the event the bid by lampert/esl is qualified and is given preference to either one of the liquidation bids, in which event there would be no need for a "new company" since the old company "sears holdings" would begin a complete liquidation of its business.

the 60 day thingy applies to provisions which certain of the listed beneficial owners have to convert warrants for stock or various kinds of notes into common stock within a 60 day period as provided in those agreements.

notice there are way more beneficial shares owned than there are shares
currently outstanding. if all of those beneficial interests were converted into shares, then there would be some multiple of the current shares outstanding actually out there after exercise of either the warrants or notes.

the warrants have a fixed exercise price and an expiration date. warrants can expire and not be exercised.

the purpose of the filing which you have referenced is to show the total beneficial ownership interests held by various entities or individuals. beneficial interests may not necessarily be voting interests. e.g., if a warrant was held permitting purchase of stock at a fixed price but that warrant had not been exercised, then no voting rights would accrue to the warrant. however, for the corporation as well as other stockholders, if the warrants are exercised that would increase the number of shares outstanding and it would be dilutive to existing shareholders. shareholders also have a right to know how their shares might be diluted in the event any type of share purchase agreement is exercised. hence, the sec filing sc 13d/a the general statement of beneficial ownership.

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