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Re: Steelhead9 post# 494997

Tuesday, 01/22/2019 7:59:20 AM

Tuesday, January 22, 2019 7:59:20 AM

Post# of 800655
Junior preferred are owed the proceeds of a liquidation up to their stated/par value. Thereafter, common shareholders start getting paid. This is one of the reasons that the recapitalization should favor junior preferred first and common after (but probably not at all).