Can anybody fill me in on how one goes about converting convertible preferred shares into common? I couldn't find any details on IB. I am 99.9% sure there is something that will keep this from working, but a companies preferred shares are trading at a discount to their conversion # of shares. They just filed for bankruptcy though, so pretty sure that eliminates their agreements to convert or do anything. About to skim the prospectus and see, but I briefly got excited lol. I'm sure if it was possible somebody much bigger and faster than me would have already done it.
You have to examine the terms of the preferred. If you are not sure, contact the company and ask for investor relations.