Unique Logistics Intl Inc (fka UNQL)

[LJ-Bodhi]

This is the long awaited golden parachute cash-out for the preferred shareholders. Trillium, 3a Capital, Great Eagle, Sunandan Ray (4,693,413,109 shares!!!), Briones, etc. are getting cash for their preferred shares out of the $35 million payment. As has been mentioned many, many times on this board, the fully diluted share count is around 9.5 billion shares. As part of this deal, just announced in the 8K, all of those preferred shares will convert with the following math:

$35,855,000 divided by 9.5 billion shares equals $0.00377 per share. There will no longer be any UNQL stock because this is a complete buyout merger and shareholders will receive a cash payment at $0.00377 per share. It's all in black and white, no spin necessary, and the UNQL to da mooooonnnnnn at dimes to dollars charade is finally over.

This is what common shareholders will get: "As consideration for the Merger, at the effective time of the Merger (the “Effective Time”), each share of (i) common stock of the Company, par value $0.001 (“Common Stock”) issued and outstanding as of immediately prior to the Effective Time will convert automatically into the right to receive an amount of cash, without interest, equal to the quotient of $35,855,000 (the “Total Merger Consideration”) divided by the number of shares of Common Stock outstanding at the Effective Time on a fully diluted, as-converted to Common Stock basis, including the number of shares of Common Stock issuable upon conversion of the Company’s convertible preferred stock, $0.001 par value per share (the “Preferred Stock” and, together with the Common Stock, the “Company Stock”) and upon full exercise, exchange or conversion of all rights to acquire Company Common Stock or instruments convertible into Company Common Stock, rounded to the nearest ten-thousandth (the “Per Share Merger Consideration”), which we expect will be $0.0037."

That is the deal. Once this closes, each shareholder will receive a cash payment equal to $0.0037 per share owned. The preferred shareholders with their billions of shares are going to make millions of dollars from that $35 million honey pot. The common shareholders at 800,000,000 strong get to share about $3 million for their long-held Unique Logistics Billion Dollar Revenues Pipe Dream Investment.

I know a lot of folks got out long ago, and congratulations. Some lessons are learned the hard way when it comes to fully diluted company value and preferred shareholder rights. They are called preferred shares for a reason. $15 million payday for Mr. Ray.....well-played indeed!!

Here is the full 8K:

https://www.otcmarkets.com/filing/html?id=18272961&guid=tVB-kWpmiBNeJth