Oct. 2 at 12:51 AM
$DWTX Am I right to understand?
Q1) "Are you going to sell it right from today?"
Not yet. This document is in the "filed" phase. Only when the SEC declares "effective" will it become legal to sell it as this S-3.
Q2) "Still, what can you pour out right away?"
About 61.5 million shares (~26.8% of the current OS) already issued as common stock are "immediate" volumes that could be on the market immediately upon effect.
Calculated: 211,383 + 10,568 + 191,017 + 191,017 + 5,234 + 5,234 + 100 = 614,553 weeks.
Q3) "Can I switch and throw the remaining 27.43 million weeks at any time?"
No. All **Preferred shares → Common stock conversion requires 'shareholder approval'**. Nailed on the document, "We plan to get approval from special shareholders' meeting, but there is no guarantee." Until approval, conversion is not possible, but in fact, approval is highly likely.
However, even after approval, 'pouring out at once' may be restricted due to the beneficial ownership cap.
