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OPAL Fuels Announces Exchange of High-Voting Stock for Low-Voting Stock by Controlling Stockholder

1. Fortistar exchanged 50 million Class D shares for Class B shares. 2. Class D shares have five votes; Class B shares have one vote.

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FAQ

Why Neutral?

The stock exchange among existing shares doesn't affect market capitalization or investor sentiment substantially. Past similar transactions had minimal immediate impact on stock prices.

How important is it?

While it indicates internal restructuring, there are no immediate implications for OPAL's market outlook or financial performance.

Why No Impact?

This share exchange does not imply new capital or changes in corporate strategy. Historical share swapping largely remains a non-event for stock performance.

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WHITE PLAINS, N.Y.--(BUSINESS WIRE)---- $OPAL--OPAL Fuels (Nasdaq: OPAL) announced that its ultimate controlling shareholder, Fortistar LLC (“Fortistar”), has exchanged 50.0 million shares of Class D common stock of the Company held by it, each of which is entitled to five votes per share on all matters on which stockholders generally are entitled to vote, for an equal number of shares of newly issued Class B common stock of the Company, each of which is entitled to one vote on such matters. This transac.

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