Examples of Non-Tendered Stockholders in a sentence
Given the Non-Tendered Stockholders’ 7.52% ownership of DBMG (i.e., 289,902 Non‐ Tendered Stockholders Shares divided by 3,855,721 DBMG shares outstanding), the Non-Tendered Stockholders arguably have an indirect financial interest of $605,648 in the approximately $8.055 million principal amount of the DBMG Financing.
This 7.52% ownership also arguably gives the Non-Tendered Stockholders an indirect financial interest of $120,510 in the fees and interest DBMG is expected to pay prior to the October 1, 2021 maturity date for the DBMG Financing.
HC2 will fund $289,902 in release payments to the Non-Tendered Stockholders—or $1.00 per share (the “HC2 Release Payment”).The Settlement requires HC2 to fund directly total offset and release payments of $1,016,060—or $3.51 per share—to the Non-Tendered Stockholders.
Objectors claimed to represent 71.5% of the Non-Tendered Stockholders Shares in the aggregate.
To address these concerns and objections relating to the interests of the Non-Tendered Stockholders, the Revised Settlement Framework does not include the Settlement Tender Offer and provides for the HC2 Offset Payment, the HC2 Interest Offset Payment, and the HC2 Release Payment, which are further described below.Under the Revised Settlement Framework, HC2 will fund two payments to the Non-Tendered Stockholders.