First off they cant hold more than 5% unless they requested ahead of time. Second they would need a large volume day to be able to dump shares into market. Since it looks like they are holding all news until announcement, what would cause volume spike so series B holders can dump? If its merger announcement then they are too late as an alternate consideration kicks in.
The only holders that have requested 10% are Alpha & CVI.
The max OS after the first 40 trading days was 7.2m I think. I estimate, assuming no news days, another ~5m shares during the 2nd 40 day period. That would bring OS to about 12m shares. If correct that represents sufficient dilution to ensure any party looking to stop merger had their percent ownership reduced significantly to the point they cannot stop it.
Was Sonny really bent over a barrel? Idk, just looks like another game is afoot.
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