Yes and no, "they will just own 51% of the common stock, which gives them control of the voting but their other rights are the same as the other shareholders." they will also control 3 of the 5 board seats which in turn gives them complete control of the company and its assets unlike common shareholders.
With a simple vote they can own 100% of the board. (Nevada no shareholder meeting needed)
They that own the majority voting rights own control of the company and its assets. minority shareholders are just along for the ride.
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