linda,
went on the state of delaware site today to research transform holdco, llc.
as you previously posted, it was incorporated on 9/28/2018, a little more than 2 weeks before shc filed for bk.
probably the first we heard about transform holdco was from reading esl's first bid or from an initial apa.
i ran a more detailed report than what which is only a "look/see" mode and there has only been one filing for the company. the initial entity filing. fwiw, the filing number for holdco is 7077051.
interestingly, there are NO authorized shares listed.
that leads me to believe that there is another name in the wings, probably already or soon to be filed based on drain's friday approval.
i did a generic search for "sears" and many entities came up. based on the seven digit holdco filing number assigned last september, i was looking for a seven digit number beginning with either a 7 or an 8. nothing new. can't believe whatever "real" name takes the place of holdco won't have sears in it someplace so maybe not yet applied for or applied for but requested not to be filed until they say so.
whatever, for securities to be given under the securities consideration, there has to be a company formed and shares authorized. have to believe when it is done, it will consist (minimally) of both class a and class b shares. there could also be a provision made for warrants.
guessing with the sign off by drain, these things will be finalized sooner rather than later.
the apa contained the usual "time is of the essence" language and as soon as the sale is closed, that marks the end of any type of appeal which might be able to be filed.
there's a lot to protect so imagine lawyers on both sides are busting it to get things done.
still find it interesting they placed a value on shares which don't appear to be listed or have yet to establish a market value.
i still can't get by the language in the apa which provides the sellers are to distribute shares to shareholders. i believe the language excluded shc from the "sellers" but it seems like the debtors are all subsidiaries of shc as as such one might think that holders of shldq are equity holders in each of these other sellers.
other than the warrants expiring in dec 2019, not aware of any other "sears" shares trading outside of shldq.
still working on the nol thing
