$FMCI interesting when looking at the share breakdown. TC will own 60% ( 34.5m), public (20m), FMCI (3m). Of the public shares institutions own 86% (17.2m?). So today there is only a little under 3m available. After the merger, I don't see a company like TC dumping a large percentage of their shares. It will be interesting to see how this trades after merger, the float is so low. There will be about 20m warrants registered at some point so the float will go up as people exercise. Still the float will be relatively low, unless institutions start dumping. Seems like there are so few shares tradeable right now the stock drop might be due to smoke and mirrors more than anything.
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