HOLDINGS JP3E Holdings Announces $19.21 Million Common Stock Warrant Program
JP3E announces warrants covering 1,960,064,028 common shares at $0.0098 per share, with an aggregate exercise value of approximately $19.21 million. The warrants were issued to John K. Park, Henry Ji and Stephen Ma.
Chairman and CEO John K. Park received warrants for 980,032,014 shares. Board Directors Dr. Henry Ji and Stephen Ma each received warrants for 490,016,007 shares.
All warrants are fully vested and immediately exercisable. The aggregate exercise value describes the amount payable upon exercise; the announcement does not report that those proceeds have been received.
The stated commercial allocations are 35% for Park and 17.5% each for Ji and Ma, based on an agreed capitalization snapshot. These allocations do not guarantee continuing ownership percentages after future financings or share issuances.
The Company describes the program as supporting long-term alignment between leadership and shareholders as it pursues its growth, investment and capital-markets strategy.
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