The incentive for shareholders to sell
The incentive for shareholders to sell was motivated and driven by Impac making shareholders believe that the company would potentially collapse. This loss of 160 million dollars would come directly from preferred shareholders pockets.At the same time Impac offered to purchase these shares for such a paltry sum, the company asked their preferred shareholders to approve seven amendments to the terms of the preferred shares. iPhone Cases sale These amendments, if consented to, eliminated virtually every valuable right of the holders of the Preferred B and C shares, including past due dividend payments.
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