Hi,
Just to give a bit of background, I had a previous post that I got a lot of very helpful responses on--thank you--definitely related because it is the same company , but the previous endeavor fell through: https://www.reddit.com/r/investing/comments/c1d91t/private_company_asking_to_repurchase_shares_prior/
I got a merger agreement this time w/ a letter of transmittal and w9 request. I signed it and got money wired. The amount wired matches-almost precisely-the 'valuation' of the company listed in the merger doc, but not the estimated per share compensation (listed as well, nearly 25% more). I was a little confused about this as I was expecting that estimated price (Which the doc seemed to indicate was pretty much just due to odds and ends beyond the settled acquisition price), and not sure if there had been witholding, or there is still money in the holdback fund (which was stated as about 12% of the purchase price), so I emailed the lawyer who was handling this and asked if i would be getting some statement on the trade, if there had been any witholding, and if the holdback had been dispersed, but ended up getting bounced around between other lawyers and bankers. The result was that so far they have avoided answering these questions other than letting me know I'll get a 1099 form at year's end. One banker noted he could send me a note on the bank's letterhead that would list the ' share type, quantity of shares and payment amount' (but not the per share price). I said sure--haven't received it yet, but it doesn't sound like it is going to be the information I'd like, as I can deduce that from the wire and my share certificate.
From my perspective it seems a little unusual. When I sell stock on etrade I always get a trade confirmation right away. When I get stock through my company and some is sold for taxes, i get a statement on that as well. If I need to pay estimated taxes to avoid an underpayment penalty, it is kind of critical to know what my gains are before the end of the year.
So I guess I am asking if I am legally entitled to get the specific details of this transaction?
thank you
Submitted February 29, 2020 at 08:19PM by hagercody https://ift.tt/3akhRKO
