The members of Supurva have received 67,500 shares of Lighthouse Series D Preferred shares in exchange for 100% membership interest of Supurva. The Series D Preferred Shares are subject to mandatory conversion into common shares of Lighthouse at a rate of 1% of the outstanding shares for each 1,000 preferred shares.
When does the mandatory conversion take place? So Supurva will end up with 67.5% of the outstanding shares and the OS is?
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