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Last October PTLO opened for trading at $26 per share after the IPO was priced at $20 per share; the stock traded as high as $57 and as low as $15
After the close on Monday, PTLO filed an S-1 on behalf of Berkshire to sell 8.0 million of the 36.7 million PTLO Class A shares that they own. Following the closing of this offering, funds managed by Berkshire are expected to own approximately 52.7% of the combined voting power of PTLO common stock. We are currently SHORT PTLO.
