In paperwork filed with the SEC, MDC Inc. Partners (NASDAQ: MDCA) proposes to move to Delaware. Currently, they are in Canada. If MDC Partners move to Delaware, 75,375,875 shares of class A common stock will change from MDC Canada to MDC US. Additionally, 3,743 shares of class B common stock will change. The total price is just over $152.25 million.
Reasons for MDC Partners to Move to Delaware
MDC Partners stated reasons for the move in a press release. They believe it will better reflect their U.S.-focused business and operations. Furthermore, Frank Lanuto, Chief Financial Officer, states that the move is part of a plan to reduce complexity and costs. Also, he believes it will make investing in MDC more desirable and better align them with their U.S. peers.
In addition, in th…