Vaso Corporation (VASO)

[chemist72]

Latest SEC filing for VASO:
https://www.sec.gov/Archives/edgar/data/839087/000121390024020480/ea0201069-01.htm

Filing shows 175,319,296 shares of VASO common stock issued and outstanding. The total value of the merger is set at $176M and each "new" VASO share will be valued at $10.00. By simple math that means that every 10 shares of old VASO stock will be initially worth $1 (approximately). That is because the current outstanding shares of VASO will be exchanged for 17.6M shares of new VASO shares worth $10 per share. That implies a reverse split of 1 for 10 for old VASO shares.

There will be 2 classes of new VASO shares. Class A shares is what current VASO shareholders will receive as stated in the document above:

The former holders of the capital stock of Vaso will be entitled to receive up to an aggregate of 17,600,000 shares of Class A Common Stock, par value $0.0001 per share, of Achari (the “Class A Common Stock”) of New Vaso in exchange for all of the outstanding shares of Vaso capital stock.

Here's the new capital structure given in the document above.

New Vaso’s proposed Amended and Restated Certificate of Incorporation authorizes capital stock of up to 111,000,000 shares, $0.0001 par value per share, of which (i) 100,000,000 shares are Class A Common Stock, (ii) 10,000,000 shares are Class B common stock, and (iii) 1,000,000 shares are preferred stock.

I also noted the following statement in the document:

No Class B Common Stock will be outstanding upon completion of the Business Combination.

I'm not sure what the purpose is of having a Class B common stock if there will be none outstanding after merger is completed.