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Sirius XM Holdings Inc. Message Board

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  • myprofile96 myprofile96 Jun 1, 2011 12:31 PM Flag

    Sky, Will you explain what is real in the following:

    When preferred shares are issued, a fixed ratio was calculated to give them 40%. Over time, this percentage can change as the company issues new shares or buys back common shares.

    The conversion is kept on the books (whether executed or not) and is part of the total shares outstanding. If the shares are converted, then that adds to the float not to the shares outstanding.

    Fundamentally it has no bearing on anything. It is already factored in to all calculations so it is nothing for anyone to focus on. Its only purpose is to figure out how much Malone owns.

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