the possibility of converting is new, and this is obviously something to bear in mind. But I do think that the risk is relatively low.
There are many possible scenarios, but I'll mention just two:
- dilution to enrich oneself on the backs of shareholders: unlikely, not least because of the low volume. Before that, he would have to set up an awardeness program and try to inflate the share price.
- give himself the flexibility to increase the number of common shares. In other words, to keep control of the company. With such a small common, a hostile takeover may be possible.
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