Yes I agree there will be approximately 1,197,600,000 SOI of LLL upon listing. FFX will retain 20% of LLL. Of the initial SOI of LLL prior to the $100 million capital raising, FFX distributed 80% as in specie to existing FFX shareholders and retained 20% of these shares. FFX then purchased $20 million of additional shares in the pro-rata and shortfall to maintain the 20% of LLL.
85c Leo at IPO - what's your guess for free shares?, page-29
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