OPAL Fuels Announces That Its Ultimate Controlling Shareholder, Fortistar LLC Has Exchanged 71.5MShares Of Class D Common Stock For An Equal Number Of Shares Of Newly Issued Class B Common Stock Of The Company
Portfolio Pulse from Benzinga Newsdesk
OPAL Fuels Inc. (NASDAQ:OPAL) announced a significant change in its share structure, with Fortistar LLC exchanging 71.5 million shares of Class D common stock for an equal number of Class B common stock, reducing its voting control. This move is anticipated to make OPAL's Class A common stock eligible for inclusion in stock market indices, potentially affecting its attractiveness to investors, although inclusion and its impact on stock price are uncertain.
March 12, 2024 | 8:50 pm
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OPAL Fuels Inc. undergoes a significant share structure change, potentially increasing its attractiveness to index-based investors, though the impact on its stock price remains uncertain.
The exchange of shares by Fortistar LLC in OPAL Fuels Inc. could lead to increased eligibility for stock market indices, which often attracts broader investment from mutual and index funds. However, the actual inclusion in indices and its effect on the stock price are not guaranteed, introducing uncertainty into the potential impact.
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