I really see only 2 ways this can work. All shares need to come from the 64% Saean owns. For the pipe and swap. 60 million shares for swap and about another 14 million shares for swap at about $3.37 share price. If Saean is buying back shares off the open market now they need to keep 30% liquid.
so after the 74 million shares are given to pipe investors and swap they retire the rest along with what they buy back to set the higher share price required for Nasdaq listing.
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