 Concurrently, MSC Cotai Limited, a wholly-owned subsidiary of the Company MSC Cotai, is offering New Cotai, LLC, an existing shareholder of the Company New Cotai, a right to acquire an additional participation interest in MSC Cotai at a price equivalent to the per Class A Share price of the Class A Private Placements in accordance with the terms and conditions of the participation agreement amongst MSC Cotai, New Cotai and the Company the MSC Cotai Participation Interest Placement and, together with the Class A Private Placements, the Private Placements. New Cotai and the existing shareholders being offered the Class A Private Placements hold, in aggregate, approximately 99 of the Companys outstanding shares. 