If we receive an offer to purchase the item at a significant premium, we will empower shareholders with a vote on the offer.
Anyone can submit a tender offer to buy out an asset. We will review and consider if it’s at a premium above both the current market cap on Otis and recent sales of the same item in the market.
We’ll give shareholders 72 hours to vote yes/no to accept or reject the buy-out offer. Votes will be weighted pro-rata. If a majority of shareholder votes opt to sell, we will do so and every shareholder will get paid out accordingly.
During the voting, anyone can submit a counteroffer. More details on how to submit a counteroffer here.