Thursday, January 20, 2022 10:50:47 AM
1. convert to common ($0.10 common value)
2. write it down ($5-8 common value)
the government maximizes its piece of the pie with #1, but plaintiff lawyer thompson pointed out that perhaps #2 would yield a higher ipo price for the government's stake and increase market participation so it may be worth it?
pretty sure government will go with #1 on this conundrum in the name of protecting the taxpayer. no reason to give away taxpayer dollars to shareholders -- so goes that narrative
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