Sep. 12 at 7:20 PM
$BURU for Avondale the Sept 11 13G reports 925,308 BURU common shares beneficially owned, representing 9.99% of the 9,262,345 shares outstanding. That is 925,308 shares of sole voting power. The filing also says Avondale directly beneficially owns those shares. Streeterville Capital, Streeterville Management and John Fife are reporting them indirectly through the ownership/control chain.
Avondale also has rights to acquire/own additional shares through the Series B preferred. The 9.99% blocker prevents it from actually owning more than 9.99% at a given time. So there can be a much larger economic/conversion position sitting behind that 925K.
Some of the other large holders do not necessarily have 9.9% of actual common shares sitting in their accounts. Highbridge’s reported position was largely shares issuable upon exercise of warrants, subject to the 9.9% blocker.
