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Tuesday, October 27, 2020 2:16:55 PM
why do you want to own common when you predict they will be 1.50 or less?
Because I will own an equivalent Par Value of my Jr. Preferreds in Commons at whatever price the re-IPO occurs.
Anyone buying the re-IPO will be expecting to make money from that price, so why wouldn't I want to own it from $1.50 or less?
The problem is when you already own something and it becomes substantially less valuable overnight.
That's the predicament existing Commons are soon to be in.
Jr. Preferreds continue to be in the driver's seat
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