After all... the OS doesn't go up or down... its FIXED and SET
Its the FLoat that is changing hands.
It also allows Mercuria to benefit from it as they are 17.5Million shares into it so basically they pay themselves an equal prorated distribution as well.
So yes.... EVERY COMMON SHARE, 100% of all OS, gets taken care of.
It's actually about the existing shares, not who holds them. The shares can change hands and then so do the rights to distribution. The language is meant to exclude any new share issuances that might happen once ANW emerges from BK status.