RE:New Equity could be Pref or diffrent share class -not commonProbably not a good way to go for curent shareholders since the new class of shares, often called preferred, usually has a conversion option to common that would heavily dilute the common when eventually exercised - it is a ticking time bomb.
The only solution for the current shareholders, and breach of fiduciary duty by management if not fully looked into, is to consider and reach the value in the assets that we all know is high even if not liquid at the moment. If the only wqy to reach this asset value is to put the co on the block - then so be it. This threat is the only thing that may prevent TVto insist on clearing their loan for new equity at current super low prices if they feqar losing the PLI assets to some other major biopharma willing to pony up for full control of the assets PLI owns. ($70 MIL IS CHUMP CHANGE TO THESE ENTITIES (INCLUDING TV). Hopefully TV will play fair and not attempt to force the total dilution of shareholders in TV's favor and settle for something in between so all can live and fight another day.