AI
Monday, July 10, 2023 5:06:52 PM
the reason commons are worthless is notice how the government values its spspa position with a cumulative loss of $66B
https://www.fiscal.treasury.gov/files/reports-statements/financial-report/2022/notes-to-the-financial-statements8.pdf
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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