"Have any of you heard of the America First Foundation?" At the beginning of the meeting, everyone was curious about the America First Foundation, which had popped up out of nowhere.
In particular, several large funds that were members of Wall Street said that they had never even heard of this American Priority Foundation. It was as if it had popped up out of nowhere, making people feel that it was a fake.
"Don't worry about this issue!" Qualcomm's chairman, Owen Jacobs, saw that these people had been struggling for a long time without getting to the point. He couldn't help but feel a little annoyed. "No matter what, I like its name very much. United States First, which proves that this is a very patriotic foundation. I am willing to believe in such a foundation. And gentlemen, no matter whether this foundation is real or fake, as long as they get the money, isn't that enough? "
"That's right! As long as the money is in the account, who cares about the America First Foundation? "
The directors quickly reached an agreement and then began the next topic.
It was a series of questions, such as whether to sell, how much to sell, and at what price.
"I think we can sell it!" Owen Jacobs, as the chairman, took the lead in expressing his opinion. "Now is the most critical time for Qualcomm. Only if CDMA is successful can the group continue to move forward. Otherwise, everything will collapse. But our funds are seriously insufficient, and we must get investment and supplement from foreign capital! "
"Therefore, I suggest that we distribute a portion of our shares to this foundation in exchange for sufficient funds for the future development of the group!" Owen Jacob expressed his opinion with a clear attitude.
Owen Jacobs was the chairman and the founder of Qualcomm. In his eyes, nothing was more important than the development of Qualcomm. So he needed a lot of funds to support the development of Qualcomm.
Moreover, Owen Jacobs still held 15% of Qualcomm's shares at this time, which was the most among all the shareholders of Qualcomm. If he sold the shares in the form of additional shares, then Owen Jacobs could always maintain his share advantage, so Owen Jacobs immediately expressed his agreement.
"Yes!"
"We also agree!" Several other scientists and shareholders who founded Qualcomm with Owen Jacobs also expressed their agreement.
However, the foundation had a different opinion. The representative of CPC Investment Fund, Eugen Jackson, stood up and said, "Everyone, we also think that selling is a good idea, but why should we increase the shares? If you want to increase the number of shares, you will need to go through a complicated approval process. By the time everything is done, it will be too late! "
"That's why I suggest we transfer a portion of our shares to this foundation. Wouldn't that be faster and more convenient?" Eugen Jackson said.
"What transfer? I think you just want to make money!" Owen Jacobs was furious. "This investment can only be used to develop the company. No one can take the money and leave!"
Of course, Owen Jacobs would not be deceived by the mouths of these fund companies. These fund companies undoubtedly saw that Qualcomm's development was in a crisis and bottleneck, so they wanted to retreat. They promptly exchanged their shares of Qualcomm for cash.
Therefore, such an investment was meaningless to Qualcomm itself.
"We are investors, not philanthropists!" Eugen Jackson retorted. Both parties were about to quarrel.
"Everyone, please calm down!" At the critical moment, Sun Zhengyi came out to smooth things over. "I know what you mean. He is also considering your own interests. There is no problem with this. Let's just take what we need!"
"How do we take what we need?" Several people looked at Sun Zhengyi and asked with a frown.
"We can increase the number of shares and sell them at the same time!" Sun Zhengyi smiled and said, "We can first discuss an increase plan. How many shares to increase and how much funds to obtain for the company's operation. After discussing all these, we can negotiate with the other party and get the funds for the company's development."
"Next, we will decide to sell the shares. However, there is actually no need to discuss this. How much you are willing to sell is your own business. As long as we set a uniform selling price, it will be fine. What do you think?"
Sun Zhengyi's words indeed took into account the interests of both parties. Therefore, both parties who were arguing just now nodded and agreed.
Therefore, after confirming the sale of shares, the next step was how to sell them.
"I suggest that we increase the value of shares by 50 million USD!" Owen Jacobs took the lead and said.
Now, Qualcomm's share price was about 250 million USD.
Increasing the value of shares by 50 million USD was about 20% of the company's shares.
For example, if the company's total shares were 10,000 shares, then they could increase the value of the company by 2,000 shares. If all these shares were sold to the other party, they could get 20% of the total market value, which was 100 million USD.
In this way, all the investors who bought the shares would have their shares reduced by 20%.
"I have no objection!"
"Me neither!"
This plan was quickly agreed by everyone. If Qualcomm could really get 100 million USD of investment, then the whole Qualcomm would come back to life and continue to support its research and development for a long time. In addition, Qualcomm's share price would also skyrocket with good news. Everyone would benefit. It was indeed a good idea.
Next, they discussed the situation of selling the shares.
According to Sun Zhengyi's suggestion, all the shareholders joined forces to discuss a uniform price. This way, they would not have to compare prices and lose money.
"I suggest that if we want to sell the shares, we sell them at a premium of more than 50% according to the share price at that time!" Sun Zhengyi took the lead and said. A premium of 50% meant that if the share price on the stock market was 100 USD, then they would sell their shares at 150 USD per share.
50%？ So high!
Everyone looked at Sun Zhengyi in disbelief. Who would be willing to buy Qualcomm's shares at a premium of 50%?
"Don't worry, he will buy it!" Sun Zhengyi said confidently, "Since this foundation has issued acquisition letters to all of us, it proves that their appetite is very big. Otherwise, they could just contact any one of us in private to buy some shares. Why do you have to tell all of us about this? "
"So I think this America First Foundation wants to buy no less than 30% of the shares. None of us can meet this requirement, so they sent out acquisition letters to all of us, hoping to buy a large number of shares!" Sun Zhengyi said.
"Then, he will definitely do whatever it takes to get our shares!"
“30%！ Their appetite is so big! " Owen Jacob's face changed instantly. He only had 15% of the shares. If there was a major shareholder with 30% of the shares, then he would not be the chairman anymore.
"Don't worry, as long as we unite, then we will have 55% of the shares. That foundation will not be the controlling shareholder! At the same time, we can also let them sign an agreement. Their shares will only be used for investment and will not interfere with the normal operation and development of the company! " Sun Zhengyi's words comforted Owen Jacob a little. In the end, the board of directors agreed happily.
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