The thing I was surprised by is that the preferred stock had a 6% dividend. Is that common nowadays?
Back around 30 years ago when I was at startups, the preferred didn't get any dividends. It existed to allow the VCs to stay ahead of founders/employees in case of IPO, liquidation, etc. Not to collect a dividend along the way.
The thing I was surprised by is that the preferred stock had a 6% dividend. Is that common nowadays?
Back around 30 years ago when I was at startups, the preferred didn't get any dividends. It existed to allow the VCs to stay ahead of founders/employees in case of IPO, liquidation, etc. Not to collect a dividend along the way.