If Kayak can pull off its proposed initial public offering, its executive officers and directors would still control the company.
That much is evident from Kayak’s March 8, 2011, S-1/A filing, a precursor to an IPO, which details creation of a dual stock class structure of Class A and Class B common stock.
“…Because of this dual class structure, our executive officers, directors and their affiliated entities will continue to be able to control all matters submitted to our stockholders for approval even if they come to own less than 50% of the outstanding shares of our common stock,” Kayak says.
For all of you Kayakologists out there, there are a number of interesting changes in the document when compared with Kayak’s Feb. 10, 2011, prospectus.
Read the full story at:http://www.tnooz.com/2011/03/09/news/kayak-ipo-update-execs-to-retain-control-ita-software-alternatives-inadequate/
