Krueger now owns about 5% of the company.
Minds + Machines co-founder Frederick Krueger, who was pushed out of the company at the end of May, has sold another 30 million shares in the company.
He now owns about 41 million ordinary shares of the new top level domain name company, or about 5%.
When he left the company, he said he planned to keep the “vast majority” of his shares in the company. Since then he’s sold 87 million shares, or about 70% of his holdings of ordinary shares.
This means he has actually sold the majority of shares he owned in the company instead of keeping the majority. It would seem Krueger changed his mind.
Minds + Machines is currently considering using some of its cash holdings for share repurchases or making a dividend to shareholders.