Mega raises another $2.98 mln from shareholders, further diluting minorities

Wed, 04 Nov 2015

By Paul McBeth Nov. 4 (BusinessDesk) - Mega, the file storage and encryption firm, raised another $2.98 million from shareholders, flooding its register with new stock and effectively giving its two biggest shareholders the ability to force a sale. The Auckland-based company's two biggest shareholders now own more than three-quarters of Mega, passing the threshold needed to trigger a mandatory sale by all investors if they agree to a cash or non-cash offer through Mega's drag-along rights. Those rights were introduced when the company's c...

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