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bradford86

01/17/22 2:26 PM

#708092 RE: FOFreddie #708086

"In addition, if
possible, the Treasury liquidates its senior preferred
shares and its warrants for common shares at the time of
the common-stock sale. "

https://www.cbo.gov/system/files/2020-08/56496-GSE.pdf

there is no value for common shares in these scenarios, fyi. they convert senior preferred to common and basically destroy common.