At closing, current stockholders of Capitol and current Nesco shareholders hold approximately 72% and 28%, respectively, of the issued and outstanding shares of the combined company's common stock, assuming no public shareholders of Capitol exercise redemption rights
In addition, investors representing $90M of cash held in NFC's trust account have committed not to exercise their redemption rights
with respect to their shares.
At closing, the current shareholders of KLD and current shareholders of Pivotal will hold approximately 56% and 44%, respectively, of the issued and outstanding shares of the combined company assuming no stockholders of Pivotal exercise their redemption rights
Hermosisima also clarified the properties for auction are not the foreclosed ones, considering that during foreclosure, a one year redemption period is still being observed, rather, he said, these real properties are already owned by the office as these are the ones whose owners failed to exercise their redemption rights
or have voluntarily surrendered the ownership of said properties.
A year later their redemption rights
were suspended, and six months after that, they were told their investments were worthless.
Further, during this time as long as Black Ridge public shareholders do not exercise their redemption rights
, their shares of Black Ridge will remain outstanding but will then trade under the new symbol thereafter.
"We confirm what's in the public record, that we purchased the Sheriff's Certificate, subject to 6-month redemption rights
If the taxpayer fails to pay the demand, the collector, on his own, can execute and record a tax deed that transfers title to the land to the municipality, leaving the taxpayer only with redemption rights
. After transfer, the municipalitys title comprises almost all rights associated with ownership including possession of the land and appropriating all profits from it.
According to the company, for the commission-free sale of redemption rights
, the average sales proceeds amounted to SEK13.26 per redemption right
It also develops and manages its own or third party's customer loyalty program, as well as sells redemption rights
of awards related to the loyalty program.
The cash/stock mix will vary based on the number of 1347 Capital shareholders that exercise their redemption rights
There will be no redemption rights
with respect to the company's warrants.