This is a news story, published by TechCrunch, that relates primarily to Bolt news.
For more stocks trading & speculation news, you can click here:
more stocks trading & speculation newsFor more news from TechCrunch, you can click here:
more news from TechCrunchOtherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like stocks trading & speculation news, you might also like this article about
Bolt investors. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest main investors news, shareholders news, stocks trading & speculation news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
investorsTechCrunch
•
73% Informative
Bolt ’s aggressive ultimatum to its existing shareholders in which it told them to buy more shares at higher prices or it would take back their shares for payment of 1 cent a share will be an expensive uphill battle, an expert familiar with Bolt 's corporate charter tells TechCrunch .
The proposed transaction is a modified example of a “pay-to-play” transaction in which Bolt is attempting to grant itself the ability to buy out 66.67% of non-participating investors at 1 cent per share.
The true gun to investors’ heads isn’t being forced to buy more shares, it’s what happens to the company if new financing can't materialize.
“Non-participants are getting screwed and everyone knows it,” Gharakhanian says.
VR Score
65
Informative language
59
Neutral language
24
Article tone
informal
Language
English
Language complexity
51
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
7
Source diversity
6
Affiliate links
no affiliate links