Lesson60 seconds
What is Full Ratchet?
Harsh resetting price to the new low round.
Step 1 of 9
Simple Definition
Full-ratchet adjusts the of prior preferred all the way down to the new lower issue price, heavily protecting earlier investors.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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