I had a discussion with a fellow investor as I miss read it – it’s when you convert back to common that is becomes restricted (I thought it was the other way). Anyway, he is a buy and hold type of guy and for him, convert made sense. I’m player trader so for me playing it both ways makes sense . I think is it boils down to what your investment strategy is and your particular situation.
How many shares you have big? I ask as that is a factor for me. I have too many to easily sell and surely devastating for price if I were to dump them all at market hence restriction doesn’t impact me. That is my situation and my strategy was a long term play (years) as I see it as a growth company. So for me, keeping 200k common (to satisfy the player in me) and convert rest or even 100% preferred make sense. It all depends on your strategy and situation.
I would hope all go preferred and they retire common, then, after a few years of growth, they do an IPO for major expansion and we are sitting purdy! On the other hand, the world could be in chaos and really doesn’t matter. There are no crystal balls here.
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