Ann: Strategic Investment in Advanced Filtration Technology, page-28

Will be interesting to see how the CelluAir investment plays out and how quickly the tech is developed. Given the involvement of Innovyz, presumably the plan would be to go to an IPO eventually. The valuation around that will be interesting i.e. NC6 will own a 20% share in a company valued at XYZ. NC6 may even be able to increase its stake in CelluAir before an IPO. NC6 shareholders could be given a priority allocation in the IPO. Interesting and exciting times. This is another potential blockbuster we didn't even know about a week ago.