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Post# of 797173
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bradford86

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bradford86

Re: kthomp19 post# 756518

Thursday, 06/01/2023 9:51:19 PM

Thursday, June 01, 2023 9:51:19 PM

Post# of 797173
I would add that the spspa is an equity instrument, not a debt instrument. Changes the calculus a bit for all the tards on this board. Spspa goes up means net worth goes up means probability of receivership goes down and at these levels of capital is near zero.

Warrants will be exercised and I expect the SPSPA to convert to common. Common thus have no security. Preferred will be made whole.

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