The Deal looks like the dollar menu at your local fast food joint ! LOL
SEBC Financial Corporation
300,000,000 shares Series A Serior Preferred stock = $300,000,000
718,000,000 shares Series B Serior Preferred stock = $718,000,000
611,000,000 shares Series J Junior Preferred stock = $611,000,000
4,500,000 shares Series K Junior Preferred stock = $4,500,000
5,000,000 each Series B & C common unpriced.
SEBC Holdings
Exchange 12-34 (estimate) million Old SEBC Common shares traded for 100% ownership in Common "units" not priced
Exchange 300,000 Series A Old Preferred stock for 300,000 shares Junior Preferred Units = $300,000 face value
Exchange 240,000 Series E Old Preferred stock for 240,000 Junior Preferred units = $240,000 face value
Add 60% New Series A Common Stock in SEBC Financial Corporation (unpriced)
Add 100% Real Estate LLC membership interests
Add 6,000,000 shares Senior Preferred units will be given to Senior note, Subordinated note and Class 3 claim holders = $6,000,0000 face value
Add 18,700,000 shares Junior Preferred units will be given to holders of class 1, 2 & 3 claims = $18,700,000
*******
After looking at all the Preferred priced at par I figure that is where the New common may begin trading assuming we don't have a huge run before the effective date. just an ewag ....
