Hi all,

One thing that's a little ambiguous to me on self-funded 7a deal structures is whether capital provided by the searcher as part of an equity injection counts towards common shares or preferred shares. I suspect the answer is 'it depends on what you can negotiate', but I'm curious if there are any norms here the investor community expects.

I.e., can a searcher participate in their own preferred equity raise where common shares are consideration for the PG, search, deal negotiating, etc. and searcher money put in would buy preferred shares alongside equity investors?