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Technology Stocks : NTN Communications, worth 185 million?
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To: dwight vickers who wrote (2022)2/16/1998 6:49:00 PM
From: June  Read Replies (1) of 2985
 
Just so we are reading from the same page this is from the S8:

"The actual number of Conversion Shares into which the Series B Preferred Stock shall be converted will depend on the Conversion Price in effect on the relevant conversion date, but the Company will not be required to issue Conversion Shares to the extent that it is prohibited from doing so by applicable law or the rules or regulations of the American Stock Exchange or other exchange on which the Common Stock is then traded. Consequently, the Company will not issue any Conversion Shares if, as a consequence of such issuance and all prior issuances of Conversion Shares, the aggregate number of Conversion Shares would exceed 19.9% of the Common Stock outstanding as of October 31, 1997."

I read this to mean 19.9% of 23.7M shares would be 4.7M conversion shares, bringing the total to 28.4M shares maximum.

4.7M is 16.5% of 28.4M.
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