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Wednesday, July 26, 2017 7:37:58 AM
The flipside to this is that they want share control to manage pps and speculate on upward movement in the near-term. This kind of lock-up looks attractive to a hedge fund and props.
They may have special voting rights, but any kind of RS or increase to AS will put them further from recovering what they were originally owed. Double edged sword imo
In addition, they can't sell shares anytime - they are Form 4 filers and are subject to blackout periods throughout the year. They would also need approval to sell shares via proxy.
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