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When Construction Renovators Corp. was formed, Rohit was issued 600 shares, Neil was issued 300 shares, and Gigi was issued 100 shares. The shareholders were

When Construction Renovators Corp. was formed, Rohit was issued 600 shares, Neil was issued 300 shares, and Gigi was issued 100 shares. The shareholders were given preemptive rights by the document that formed the corporation. The corporation now intends to issue 10,000 shares of stock. What are the shareholders' rights, if any? What is the purpose of preemptive rights?

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