After the restructuring, Greg Jensen held 25% of the shares, and the management owned 15%.
Chestor Ware, Adrian Wright, Spencer Burley, Brandon Brent, and Wallace Carter together held a total of 13%.
The remaining 47% of the shares were held by retail investors.
In other words, Greg Jensen had become the biggest shareholder of Locke Corp, with absolute say in the company.
And the original Locke family had been completely kicked out of Locke Corp.
...
Late at night, the Locke family villa was brightly lit, all the members of the Locke family gathered together, exchanging toasts and celebrating that the family had finally overcome its difficulties.
Locke Corp owed the banks more than five hundred million, and with the previously retained cash, as well as the funds from selling the shareholding, and the contributions of the Locke family members themselves, they had finally managed to fill that hole.
