Hmhc via /r/wallstreetbets #stocks #wallstreetbets #investing


While I’m in the process of filling out my wendy’s application someone brought to my attention that the first extension which claimed “on March 28, 2022, approximately 1,803,547 Shares had been validly tendered into and not validly withdrawn pursuant to the Offer, representing approximately 0.6% of the outstanding Shares” does not add up to the final vote yesterday.

“A total of 72,926,195 Company Shares (excluding Company Shares with respect to which notices of guaranteed delivery were delivered) were validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 56.5% of the Company Shares outstanding as of the Expiration Time.”

Now the 10-K shows “The number of shares of common stock, par value $0.01 per share, outstanding as of February 1, 2022 was 127,728,011.”.

If we do the math of the original 1.8M votes divided by the 127M shares outstanding this would be 1.4% shares tendered as of March 28th and not the 0.6% tendered? Am I missing something or is this a material misstatement by their filing and resulted in people making decisions on false information?

TLDR; HMHC reported 0.6% (1.8M shares) were tendered as of March 28th, but based on today’s filing for shares outstanding that should have been reported as 1.4%? The math doesn’t add up. Please explain.

Submitted April 07, 2022 at 07:09PM by Renalpe
via reddit