Clarifications:

Resolves N/A if restructuring not completed by 2027-01-01.

May N/A early if restructuring plans seem to be cancelled with high confidence.

If legal disputes are undergoing, resolution may be delayed until after those are settled, even if restructuring completed, if I think there is a significant chance it might affect resolution.

If any terms are contingent on AGI or similar milestones, (e.g. the non-profit gets full control once AGI), this market will ignore that part of the deal.

• Obviously "Fraction of profit shared" will not ignore profit/revenue milestones if there's some tranched payout structure.

Per-submarket clarifications:

"Fraction of shares allocated to non-profit": If the deal is done as a stock OR cash buyout. Some examples:

• buyout of $40B in cash to the non-profit, last-known valuation of $157B resolves to 25%

• buyout of $10B in cash and 10% (at $157B valuation) resolves to 16%

"Last-known valuation" may be ambiguous. If a new capital raise happens before/during restructuring, I may wait until the most-recent valuation before the restructuring finishes is known.

If there are warrants, options, or other instruments involved, I will resolve to the best estimate of their valuation (ideally whatever is reported).

"Fraction of voting shares allocated to non-profit": If dual class stock or similar arrangement, this resolves to the fraction of votes the non-profit owns.

If there are any special terms (e.g. either side gets veto power in some narrow cases), those will not be taken into account.

"Fraction of profit allocated to non-profit": There might be some complex/tranched profit-sharing agreement as part of the deal. In that case, this resolves to what fraction the non-profit receives on the first $100B of profit. (If no profit share in deal, resolves to 0).

If the condition is something like "10% of profits until AGI, then 100%", this will resolve to 10%.

If there are other terms in the deal (say, PBC licenses IP from non-profit at some $/year), I may wrap those into "Fraction of shares allocated to non-profit" if a reasonable DCF valuation can be computed. Otherwise they will not be counted.

I may trade in this market, will delegate resolution if significant ambiguity.