Not sure where you got that information, but that is not what the company is stating. Although they have publicly announced in a PR that all of BEHL’s assets are being “ACQUIRED” by BNPD, it turns out management is saying they used the wrong wording. But the claim here is that BEHL will sell parts of its business to BNPD in exchange for a 10 to 1 “dividend” of shares in BNPD.
To the shareholders out there they believe that this means that they will have a tenth of their shares in BNPD that are free trading and still have totally tradable shares in BEHL with its mammoth share structure. The remaining business that BEHL claims will be left in the BEHL ticker is a “construction arm” to build these PBRs at 20% above cost. While the PBR selling and algae end product will go to BNPD.
The thought of those who have been around for awhile is this is a slick reverse merger, in which BEHL shareholders will be given a tenth of their shares in BNPD and then the BEHL shell will be sold or BK at a later date.
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