phillip - That's the way I understand it. If we are class 18 we're still a zero. Classed as equity would be ok if there was enough value in the equity for us to receive 335 million worth. I don't know what value to put on the new company but the common holders better hope we're not equity.
All I see that's new in this is that if we are equity, we'll receive something rather than nothing.
Willingham and the equity committee said they are "pleased with the result." I wonder if they have some reason to believe we are class 12 or 18 and won't dilute them?
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