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Well, Agarwal says the remaining is split on an "as converted" basis which implies non-participating preferred. So it seems right to me!
by dats 18y ago
Well, Agarwal says the remaining is split on an "as converted" basis which implies non-participating preferred. So it seems right to me!
- aston 18y agoDefinitely should be clarified in the article, though. I had no clue what as converted meant despite some casual research into common terms. I doubt people totally new to term sheets would have a clue about participation based on what's there now.