9 13 Tony Tony NNP 14 18 Lama Lama NNP 19 22 Co. Co. NNP 23 27 said say VBD 28 32 that that IN 33 38 Equus Equus NNP 39 49 Investment Investment NNP 50 52 II II NNP 53 60 Limited Limited NNP 61 72 Partnership Partnership NNP 73 76 has have VBZ 77 85 proposed propose VBN 86 94 changing change VBG 95 98 the the DT 99 104 offer offer NN 105 108 for for IN 109 112 the the DT 113 120 company company NN 121 123 to to TO 124 125 $ $ $ 125 130 13.65 13.65 CD 131 133 in in IN 134 138 cash cash NN 139 142 and and CC 143 148 stock stock NN 149 153 from from IN 154 156 an an DT 157 165 all-cash all-cash JJ 166 177 transaction transaction NN 177 178 . . . 181 186 Under under IN 187 192 terms term NNS 193 195 of of IN 196 199 the the DT 200 203 new new JJ 204 212 proposal proposal NN 212 213 , , , 214 219 Equus Equus NNP 219 220 , , , 221 228 managed manage VBN 229 231 by by IN 232 237 Equus Equus NNP 238 245 Capital Capital NNP 246 251 Corp. Corp. NNP 251 252 , , , 253 260 Houston Houston NNP 260 261 , , , 262 267 would would MD 268 271 pay pay VB 272 273 $ $ $ 273 275 12 12 CD 276 280 cash cash NN 281 284 and and CC 285 288 one one CD 289 292 new new JJ 293 302 preferred preferred JJ 303 308 share share NN 309 313 with with IN 314 315 a a DT 316 327 liquidation liquidation NN 328 338 preference preference NN 339 341 of of IN 342 343 $ $ $ 343 347 1.65 1.65 CD 348 349 a a DT 350 355 share share NN 356 359 for for IN 360 364 each each DT 365 367 of of IN 368 372 Tony Tony NNP 373 377 Lama Lama NNP 377 379 ’s 's POS 380 383 2.1 2.1 CD 384 391 million million CD 392 398 shares share NNS 399 410 outstanding outstanding JJ 410 411 . . . 412 422 Previously previously RB 422 423 , , , 424 426 it it PRP 427 434 offered offer VBD 435 436 $ $ $ 436 441 13.65 13.65 CD 442 443 a a DT 444 449 share share NN 450 452 in in IN 453 457 cash cash NN 457 458 , , , 459 461 or or CC 462 463 $ $ $ 463 465 29 29 CD 466 473 million million CD 473 474 . . . 477 480 The the DT 481 483 El El NNP 484 488 Paso Paso NNP 488 489 , , , 490 495 Texas Texas NNP 495 496 , , , 497 502 maker maker NN 503 505 of of IN 506 513 Western western JJ 514 519 boots boot NNS 520 523 and and CC 524 531 leather leather NN 532 543 accessories accessory NNS 544 548 said say VBD 549 552 the the DT 553 562 preferred preferred JJ 563 568 stock stock NN 569 574 would would MD 575 581 accrue accrue VB 582 591 dividends dividend NNS 592 594 at at IN 595 596 a a DT 597 599 12 12 CD 599 600 % % NN 601 605 rate rate NN 605 606 , , , 607 610 but but CC 611 616 would would MD 616 619 n’t n't RB 620 622 be be VB 623 627 paid pay VBN 628 631 for for IN 632 635 the the DT 636 641 first first JJ 642 645 two two CD 646 651 years year NNS 651 652 . . . 653 656 The the DT 657 662 stock stock NN 663 668 would would MD 669 671 be be VB 672 680 redeemed redeem VBN 681 683 in in IN 684 688 five five CD 689 694 years year NNS 694 695 , , , 696 703 subject subject JJ 704 706 to to TO 707 712 terms term NNS 713 715 of of IN 716 719 the the DT 720 729 surviving survive VBG 730 737 company company NN 737 739 ’s 's POS 740 744 debt debt NN 744 745 . . . 748 755 Neither neither DT 756 761 Equus Equus NNP 762 765 nor nor CC 766 770 Tony Tony NNP 771 775 Lama Lama NNP 776 780 gave give VBD 781 782 a a DT 783 789 reason reason NN 790 793 for for IN 794 797 the the DT 798 805 changed change VBN 806 811 offer offer NN 812 815 and and CC 816 820 Tony Tony NNP 821 825 Lama Lama NNP 826 831 could could MD 831 834 n’t n't RB 835 837 be be VB 838 845 reached reach VBN 846 849 for for IN 850 857 comment comment NN 857 858 . . . 859 866 However however RB 866 867 , , , 868 872 Tony Tony NNP 873 877 Lama Lama NNP 878 882 said say VBD 883 885 it it PRP 886 891 would would MD 892 900 promptly promptly RB 901 907 submit submit VB 908 911 the the DT 912 917 offer offer NN 918 920 to to TO 921 922 a a DT 923 930 special special JJ 931 940 committee committee NN 941 943 of of IN 944 947 the the DT 948 955 company company NN 955 957 ’s 's POS 958 963 board board NN 963 964 . . .