GTC Biotherapeutics (fka GTCB)

[Biowatch]

"GTC’s minority shareholders have no such contractual protection."

That's part of the distinction between "preferred" and "common" stock, right? I noticed in the PR that LFB gets preferred stock, not common, which puts them at the head of the line to garner benefits should GTC go under. In the meanwhile, they get paid a 10% dividend??? Please tell me where I can get such a good guaranteed income these days...

The bridge debt will automatically convert into convertible preferred stock upon shareholder approval. The convertible preferred stock will carry a 10% dividend over 5 years...

Disclaimer: I've sold my GTCBD, at a loss, alas.