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Re: LuLeVan post# 784509

Tuesday, 01/30/2024 3:51:57 PM

Tuesday, January 30, 2024 3:51:57 PM

Post# of 796835
The sequence of events is important here. Is the suggestion that the warrants are exercised first, and then the JPS are made an offer to convert? So as to avoid the 5:1 dilution? Why would Treasury care about maintaining JPS value?

And then what? JPS have 5x the relative value vs common, only to be diluted by SPS conversion as the 3rd step?

Or if the SPS conversion isn't happening, why bother converting the JPS vs just let them be? I don't see the advantage for Treasury.