I think there have been an A and b class..both restricted, no multipliers, both carry dividends, one-to-one conversions...given the fact there is no debt service, for me the most important byproduct of the preferred sales is market valued cash to the company...the bills get paid..!!
FYI - my percentage was off on the preferred..it's not 1/10 of a percent, but it's less than a percent...an investment banker would want to structure a deal that would give them more than half the company...
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