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Mark was on a roll. “You guys know that shareholder rights are dependent on the type (class) of equity or debt ownership you hold, right? A company’s shareholder pecking order usually goes bondholders, preferred stockholders, and common stockholders. Liquidity preferences follow in this same order. If a company liquidates, bondholders and other debt holders get the first crack at assets, followed by preferred stockholders and then common stockholders.”
“So, preferred stockholders get fir...
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