Saleen Automotive, Inc. (fka SLNN)

[Victor6]

lowcalg2, is your comment based on the below SEC filing by WSTY?


below are the statements I copied from WSTY SEC filings. From what I understand is, It's not going to effect WSTY share holders. It's about the Saleen shares.

(a) Saleen California Merger Corporation will be merged with and into SMS with SMS becoming our wholly-owned subsidiary;

(b) Saleen Florida Merger Corporation will be merged with and into Saleen Automotive with Saleen Automotive becoming our wholly-owned subsidiary;

(c) holders of the outstanding capital stock of Saleen Automotive will receive shares of our Super Voting Preferred Stock in accordance with the exchange ratio for the merger and holders of the outstanding capital stock of SMS will receive no consideration for their shares in the merger; and

(d) immediately after the merger approximately 93% of the beneficial ownership of our shares of common stock (on a fully-diluted basis) will be owned, collectively, by Steve M. Saleen and the former holders of the outstanding capital stock of Saleen Automotive (collectively, the “Merger”).