casinobingo| Form 144 |Related parties of L.US plan to sell 150,000 shares worth approximately US$11.6715 million

According to the disclosure by the Securities and Exchange Commission (SEC) on May 8th US Eastern timeCasinobingoJonathan M. Tisch Family Foundation, a related party, intends to sell 150000 common shares on May 8, with a total market capitalization of about 1.Casinobingo, 1.6715 million dollars.

In addition, Jonathan M. Tisch Family Foundation has reduced its stake in the company since February 7, 2024.Casinobingo, 962 shares with a total value of about $575400.

Photo Source: SEC announcement

What is Form 144s?

The Rule 144of the American Securities Act of 1933 stipulates that related parties in listed companies (listed companies hold more than 10% of the shares)CasinobingoMajor shareholders, company executives and board members) and shareholders who acquire shares from related parties (such shares are restricted or controlled securities) must follow strict disclosure procedures when selling such shares and are required to file Form 144documents with SEC before selling.

Among them, the related party must hold the securities for at least six months, and the number of shares sold shall not exceed 1% of the total number of issued shares. Related parties are required to submit this form to SEC when the number of shares sold during any three-month period exceeds 5000 shares, or when the total market capitalization exceeds US $50, 000.