Saturday, May 23, 2020 3:58:31 PM
First, conversion can be offered as part of a settlement to get JPS plaintiffs to end their lawsuits in Lamberth etc;
Second, converting JPS to common moves capital to the bucket in capital rule which includes common (CETI1?), hence reducing amount of new common needed to be issued;
Third, it facilitates issuing new securities since new pref don't have any pref ahead of them in the capital structure, and/or new common don;t have pref ahead of them in the capital structure, hence making them more attractive to investors.
There may be other reasons...
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM