American Software (AMSWA) just unveiled an announcement.
American Software, Inc. announced its plan to simplify its stock structure by eliminating its Class B Common Stock, pending shareholder approval. This involves exchanging each share of Class B for 1.2 shares of Class A Common Stock, with the major Class B shareholder, James C. Edenfield, fully supporting the move and agreeing to various terms, including voting and transfer restrictions. The transaction is anticipated to close in the second half of 2024, after meeting certain customary conditions, aiming to streamline the company’s capital structure and potentially impact its financial and operational future.
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