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OShagHennessy

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OShagHennessy

Re: caltr0m post# 37880

Wednesday, 07/26/2017 7:46:24 AM

Wednesday, July 26, 2017 7:46:24 AM

Post# of 61601
Unfortunately, they would not need a proxy vote to sell shares moving forward. Some preferred shares have special voting rights to approve extraordinary events (such as the issuance of new shares or approval of the acquisition of a company). They will keep diluting to pay off debt since they have no other options.

Reference:
https://en.wikipedia.org/wiki/Preferred_stock
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