Yahoo Finance | Roundtable CEO James Heckman Details NASDAQ Strategy, Long-Term Focus, Capitalization Structure, and Lock-Up
Roundtable CEO James Heckman detailed the Company’s post-merger capitalization strategy following the April 1 shareholder approval of its merger with RYVYL Inc. (NASDAQ: RVYL). The merger was approved by approximately 99% of votes cast by shareholders. This communication provides additional detail for shareholders, following last week’s meeting announcement, including details of the 85% capitalization table lock up.
Heckman outlined the equity structure designed to balance Nasdaq listing liquidity requirements with a restricted share supply and long-term value creation, describing the supply as “well structured” for both short-term and long-term public company shareholders. Heckman stated, “our founders, executives and strategic investors are committed to investing the time and resources necessary to fulfill our vision to its fullest potential.”
The combined entity is expected to have approximately 13.5 million total shares outstanding. Of those, approximately 2 million shares are expected to be available for public trading, with the remaining 11.5 million shares, representing approximately 85% of the total outstanding shares, subject to a one year lock up provision. Prior to the merger, RYVYL Inc. effected a reverse stock split to secure compliance with Nasdaq listing requirements, while Roundtable invested $6 million into RYVYL to ensure shareholder equity compliance. Heckman emphasized that the merger structure is not materially dilutive to the free trading supply but instead restricts supply, calling it a “best of worlds” structure that provides sufficient scale and liquidity while reducing filing triggers. He added that the company’s founders and investors are focused on long-term value as they roll out their Web3, AI-powered digital media platform over the coming years.
Read more: https://finance.yahoo.com/markets/stocks/articles/roundtable-ceo-james-heckman-details-163910783.html
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