Oracle23
$SLQT the market is implying the equity is worth $0 because the $350 million in Preferred Shares (which accrue 14% yearly dividends) takes all the cash flow. Danker and his board destroyed all value by agreeing to it in Feb 2025. From $6 to 30 cents. They’d have been better off issuing 60 million shares at $5 (about 33% dilutive equity raise), than destroy all value with the suffocating Preferred Stock overhang
2
