Jul. 8 at 12:00 AM
$CLRO well folks here is the break down:
What is happening?
The company is giving shareholders a special stock dividend.
For every share of Common Stock or Common Stock Equivalent (like stock options or convertible securities), investors will get one share of Class A Redeemable Preferred Stock.
This move supports the company’s strategic plan, which includes the potential sale of assets ("Asset Sale").
* What is the purpose of the Class A Preferred Stock?
It's tied to the Asset Sale:
If the company sells assets (in one or more transactions), the Class A Preferred Stock will be redeemed, meaning:
It will be bought back by the company.
Shareholders will receive 100% of the net proceeds from the sale, based on how many Class A Preferred shares they hold.
hold onto those shares....
