FRMO – Horizon Kinetics Share ExchangeOn April 16, 2013, the Company announced an agreement with Horizon Kinetics LLC to exchange certain privately held units of Horizon Kinetics for common shares of FRMO based upon pre-determined prices of each. The exchange period expired on May 31, 2013 resulting in FRMO owning 4.95% of Horizon Kinetics and the individual Horizon Kinetics’ unit sellers receiving 2,387,715 shares of FRMO common stock. Immediately prior to the exchange, FRMO held a 0.86% interest in Horizon Kinetics.
FRMO Corp. Announces May 2013 Transactions And Date Of Annual Meeting Of Shareholders
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