Conversion Ratio will be the same for all Series C Convertible Preferred Shares IMO. Doesn’t make sense to have two different Conversion Ratios on the same Series C stock, otherwise I would have expected to see one Series for the dividend shares and one class of preferred stock for the voluntary shares.
It should be 250:1 based on PRs. I don’t understand the 200:1 Conversion Ratio you mentioned but you have a lot more experience on these matters than I do.