I doubt management is that nice to give retail all 16Million of Legacy shares. They got a huge chunk of it and they still haven't sold it base on float only went up 7M in 3years. There is 9M which won't be 80% control but still a nice chunk of control.
This is thinking the 2.75M difference from Legacy O/S didn't go into float at all and just TIGE selling 7M b/c Legacy O/S was 7.75M with 5M float at the time of the deal.