other material
confidence high
sentiment neutral
materiality 0.60
OPAL Fuels controlling shareholder exchanges 50M high-vote shares for low-vote shares
OPAL Fuels Inc.
- Fortistar exchanged 50.0M Class D shares (5 votes each) for equal number of new Class B shares (1 vote each); no change in economic interest.
- Fortistar has now converted over 120M Class D shares in aggregate, further reducing its voting control.
- Exchange intended to help facilitate inclusion of Class A common stock in stock market indices; no guarantee of index inclusion or price effect.