As for the common shareholders…if you own the shares, you own them. I realize privates are always weird. But cancelling common equity usually requires a bankruptcy filing. I’m guessing the buyer offered a few pennies and said they would cancel the shares if the holders didn’t sell that price.
I'm sure some enterprising lawyer in Palo Alto wrote the terms properly. Idk, I just, like, I get why the Mission Local comments section is angry but it's all just downstream of the fact that the market wasn't there and so the enterprise value is what it is?
Ah, the Palo Alto lawyer special – airtight but soulcrushing.
I guarantee you none of those people know what enterprise value even means, it's chinatown jake
I once had a birthday party with my MBA cohort at Benders. I absolutely know what each of these groups knows and doesn't know
From recent experience, I have a lot less faith in lawyers getting the details right than I had before. A price being $1 is still a price. Canceling issued common equity is something else.