Fannie Mae-No Politics (FNMA)

[GAK-]

Do I think it is possible? Well certainly it is. AIG did it, with SIX public offerings. And when they made their first public offering, it did trade at a discount to the final market price price ($32 vs. $65), but it did not trade at the OTC price ($7). Subsequent offerings came in, I believe, at $45.

And, AIG did not convert their preferred stock until the stock reached market price. Pfds were converted at par value ($45)


http://www.timelessinvestor.com/2019/01/10/history-of-aigs-recapitalization-and-stock-price/