[senordevnyc]

I may not be fully understanding it, but if the value went from $300B to $850B because of the conversion, then you can’t claim that the additional value was stolen from the nonprofit. As long as the entity was unconverted, there was a limit to what the market would value it at. Is this off?

[az226]

All investors owned profit participation units with limited (capped) profits and limited return size.

After conversion, they all own unlimited profit, unlimited return shares. A lot more valuable.

The nonprofit lost the value between the two.