Technically I should have called it Conversion “Ratio” not Rate but same idea. At this point for me it is a toss up whether to convert additional shares To preferred shares or just Roll with the freebie (5% dividend) preferred C shares I will get.
At a price of 0.06 it is a wash other than the 6% annual dividend on the preferred shares.
Most likely there will be a holding period For the preferred shares of a year. Not sure though..
I would not throw all my eggs in the PASO preferred basket fwiw.