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10/12/21 11:02 AM

#172940 RE: DCorleone #172939

Yeah but they lose voting power if they do this.

Class A preferreds don't convert unless the person wants to lose controlling interest in the company. The conversion terms are there so someone who is bankrupted can liquidate them, but that's a last-resort from a personal finance perspective.

Who in their right mind would convert shares carrying intrinsic additional voting power into normal commons? Exactly.

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