From what I have read on the A P-shares is just a contol over any vote. It makes up 110% on the O/S at any given time. With the O/S at 600mm, P shares make up 660mm votes. Always holds a majority. But ya cant increae the O/S by 660mm when the A/S is 750mm. No way. And why would they when the pps in so low and no real revenue stream comming in? I don't see them as a converting tool into common. Maybe a Ch 13 they take precedence over commons after debt is paid. There won't be anything for anyonr in a total disolvmnet
If the numbers in the sticky are correct and the A class of P shares convert into just voting rights of 110% of the o/s, Then at 1mm A shares outstanding of 100mm, they equal to 633.9M X 110%. 697+mm votes to 633.9mm votes. Or 1 Preferd A share equals 697 votes. My gorilla math
But really makes no difference anyway, just good for some chat.
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