141 Capital Inc (fka ONCP)

[ThSeeker]

You don't have to know how many. You have to choose what you want them to do if your converting would result in you owning more than 10% of the common shares.
You are hereby requested to convert
Shares of Series C Preferred Stock into Common Stock, as per 141 Capital’s Amended and Restated Articles of Incorporation. Should the conversion of these shares result in the beneficiary’s holdings exceeding 10% of the issued and outstanding Common Stock of 141 Capital, you are hereby requested to (clearly indicate one): ...

This is interesting. It sounds like no one can own more than 10% and still convert pref'd to common shares. This will help limit the common shares total. Those whose total holdings will not exceed 10% after the conversion will not be effected.
If I am understanding this correctly.

Like to know what the restrictions are for:
Convert the number of Series C Preferred Shares requested and issue restricted Common Stock.
1) Can these restricted shares be split?
2) how long will they be restricted from trading?