Just read parts of the prospectus and the 89 million shares currently outstanding are included in the shares offered for sale so it has something to do with the ipo. This is typical in business. The total number of issued and outstanding shares after the prospectus will be 129 million. The increase from 89 million to 129 million is due to 39 million shares of class A stock issued to someone associated with the CEO Christopher Ruddy that can be converted to class B stock. The total of 129 million is only if all of those 39 million Shares are converted to class B stock. Otherwise issued and outstanding will remain at 89 million. All this is, is the expiration of the lockout for the ipo and the individuals who invested in the IPO can now sell their shares.
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