Impac Mortgage Holdings Inc (IMPM)

[StockKnowledge]

New here did I miss the boat?

I was looking at an article on IMH, which I believe the common shares are a compelling buy. I came across the preferred and see are they suspended. I was thinking of picking up some IMPHP with the intial thoughts that the common stock can not be paid dividends until they reinstate the preferreds. However, I see information about tender offers etc and other events stripping rights etc...

My question is at $9 did I miss the boat, since it already moved from $2? Is there any chance that the dividend gets reinstated, or the preferreds get redeemed at $25? Or can management not pay the dividend and basically ignore the preferred holders forever?