Toyo Engineering Corporation
Notice of Partial Conversion of Class A Preferred Shares into Common Shares
4,198,500 Class A preferred shares were converted into 4,198,500 common shares, increasing the number of common shares from 38,558,507 shares to 42,757,007 shares.
Key Figures
- Number of Class A Preferred Shares Converted: 4,198,500 shares
- Number of Common Shares Outstanding (Before Conversion): 38,558,507 shares
- Number of Common Shares Outstanding (After Conversion): 42,757,007 shares
AI要約
Overview of Capital Policy
The Company converted 4,198,500 Class A preferred shares into common shares based on the exercise of acquisition rights by the holders, Integral Team Investment Limited Partnership and Innovation Alpha Team L.P. The conversion ratio was one Class A preferred share to one common share, resulting in an increase in common shares outstanding from 38,558,507 shares to 42,757,007 shares.
Impact on Shareholders
As a result of this conversion, the number of Class A preferred shares held decreased from 20,270,300 shares to 16,071,800 shares, with 4,198,500 shares recorded as treasury stock. While dilution occurred due to the increase in common shares, there is no specific mention of the dilution rate or use of proceeds.
