Old Money Entertainment Shareholders Rights Your firm’s client Don Jameson, the aspiring music producer and CEO of Old Money Entertainment (OME), has been expanding the business quite well since he incorporated.
OME now has six shareholders and its capitalization is $100 million. OME just signed a young, up and coming singer/songwriter/dancer who is widely believed to be “the next Michael Jackson.” Don Jameson owns 55% of the stock in OME; the other 45% of the stock is split among the other five shareholders, who own 9% each.
Don would like to take the company public so he can both cash out some of his investment and gain additional capital for the business to expand. Your managing partner has asked you to perform legal research to ascertain (1) What OME would need to do to go public on the NASDAQ and (2) what provisions would apply to protect the interests of existing shareholders.
