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Equity Compensation 101
By Gary T. Moyer, April 11, 2000
Recapitalization (Value Freeze)
- Description of Recapitalization: Company is recapitalized so that is has preferred stock and common stock, with the preferred stock being voting and having a liquidation preference of $10 million and with the common stock being non-voting. All of the preferred stock is issued to Mr. Smith, and 90% of the common stock being issued to Mr. Smith and 10% of the common stock being issued to Star.
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