Heritage, which owns 51 % of POP's 3.6 million shares outstanding, said it will exchange one share of a new preferred stock for each POP common share it doesn't already own. Depending upon how many warrants and options are exercised prior to completion of the transaction, Heritage would issue between 1.8 million and 2.35 million preferred shares, a Heritage spokesman estimated.
Heritage says it'll exchange one share of a preferred stock for each POP common share it doesn't own. Depending upon how many warrants and options are used prior to completion of the transaction, Heritage would issue between 1.8 to 2.35 million preferred shares.