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h_man_investor

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h_man_investor

Re: bwana12 post# 1491

Thursday, 05/06/2010 8:10:06 AM

Thursday, May 06, 2010 8:10:06 AM

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Under your scenario, its not costing C/MM $30mm but $155mm because the preferred shareholders would need to be made whole before equity shareholders get anything. You can't just skip over senior equity in the cap structure.

$155mm is a lot more material than $30mm.
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