I don’t think company is doing anything without legal advice and this was discussed here many months ago. Stay tuned as more surprises to come. Watch Q1 and Q2 reports. TicTok TicTok….
This is what might be happening here?
“What is a Dual-Class Share.”
“In fact, Class B shares are often referred to as the founders’ class because they are reserved for people who created a company. In turn, Class B have more voting power than Class A. It may also be the case that Class B shares are given to special partners and investors. As such, this category can also be referred to as “advisor class” shares.
Labelling them as “founder” and “advisor shares” is a good way to remember that they are reserved for a few influential figures within a company. Therefore, anyone within this category has more voting rights than people with Class A shares under a dual structure.”
Summary
Dual-class shares may be controversial, but they are used by several big companies. The main things to keep in mind about a multi-class share vehicle are:
That a dual-class share structure gives more power to one set of shareholders Certain shares will be tradeable by the general public and have less voting power Others will be restricted to certain people and have more voting power That is the nature of a multi share class vehicle, which is an aspect of stocks and share structures that is worth being aware of.
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