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Monday, April 26, 2021 5:04:31 PM
There have been (false) statements made that claim that YA II PN (aka "Yorkville") cannot hold more than 4.99% of the outstanding shares. That is incorrect. They can hold as much as they want. They just have to give KBLB a 65 day notification:
I was the first person to bring up the topic of the 4.99% provision. In the first paragraph that I mentioned the 4.99% provision, I literally mentioned the 65 day notice twice. Below is my original paragraph:
And secondly, it would be risky for them because they are only allowed to own up to 4.99% of the shares at a time. They would need to give Kraig Labs a 65 day notice to have more. So in your scenario they would exercise $1mil which would net them 8mil shares, bringing the total outstanding shares to around 860 mil, which means they would only be able to attain 35 mil more shares (utilizing a total of 2.75mil of their debentures. Then they would have to sit on their hands for 65 days and risk the share price going up in the time and having to pay much higher prices for their remaining $2.25 mil worth of debentures. So even if it was legal, it wouldn't be worth the risk.
That was straight from post #221460 which was my response to igotthemojo
Your misinformation campaign is losing steam.
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