Thursday, August 11, 2022 2:33:28 PM
That depends on who you ask. But FnF's recap and release won't have anything to do with what any current shareholder thinks is "ethical", "morally good", "correct", "fair", "just", or any other purely subjective word you want to throw around.
And if you're referring to a senior-to-common conversion as the companies paying Treasury twice, you're completely wrong. Any money Treasury gets from selling its common shares (either from warrant exercise or senior conversion) won't come from the companies at all. That money will come from outside investors. So Treasury would get to, in effect, double-dip, but the companies won't be footing the second part of the bill.
You forgot a fourth group: new investors. A capital raise must happen if FnF are to exit conservatorship before 2028, and if it happens any time in the next two years it will have to be huge (at least $70B).
Exactly right.
But calling "JPS holders" greedy and not leveling the same accusation at common shareholders is hypocrisy of the highest order. In the end, everyone just wants money.
Only two need to be satisfied: Treasury and new investors. It should be abundantly clear by now that neither existing common nor existing junior pref shareholders have any influence or power in this process.
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