What happened to common stock holders under the Plan of Reorganization?
Under the Plan of Reorganization, current equity was canceled as of January 3, 2006 and shares of new Mirant were issued. Shareholders received a pro-rata share of 10,991,250 shares allocated by the company to former equity holders. In addition, former common stock holders received a pro-rata share of 35,294,118 warrants. Litigation rights were also assigned in the event that there are net proceeds from specified pending litigation.
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