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Re: along4zride post# 760798

Monday, 07/31/2023 1:53:42 AM

Monday, July 31, 2023 1:53:42 AM

Post# of 797180
The spspa liq pref is up big since the 2019 amendment that let the gses retain capital. This basically destroyed any potential upside for common shares in an equity restructuring

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