Fannie Mae-No Politics (FNMA)

[toupeeman2000]

In the letter from Hindes and as posted by Navy, 3rd paragraph...

"And it's clear she has been interacting with the bankers (Morgan Stanley and JP Morgan) as referenced by a comment that she made that an IPO in conjunction with their release would be the "largest in history". "

I just listened to the interview between Dennis Shea and Sandra Thompson on March 31, 2022, and she did use the term IPO (at about 30 1/2 minute mark).

Since she used the word "IPO", wouldn't this mean by definition that any/all previous common shares would not exist? A "Dilutive Secondary Offering" would create more shares and raise more money, but an "IPO" can only be done once. To me, this would infer that there may be a plan that would wipe out commons.
(I see Clark already picked up on this)

Comments please.
Thanks.