不要因为自己不懂“清算优先权”(liquidation preference)、“优先承购权”(right of first refusal),或者是“拖带权”(drag along/tag along)的含义,而被律师搞的晕头转向。
Don't let yourself be confused by a lawyer because you don't know what "liquidation preference," "right of first refusal," or "drag along/tag along" means.
Private and institutional shareholders are angry because the deal ignores their pre-emption rights – they should have first refusal on any new shares issued – and would dilute their stakes.