New ask Hacker News story: Ask HN: Question about “preferred shares” vs. “super voting shares”

Ask HN: Question about “preferred shares” vs. “super voting shares”
2 by valachio | 2 comments on Hacker News.
I'm raising capital for a startup for the first time. At my startup we currently have 2 classes of shares. Class A is a "super voting" share with 10 votes and Class B is a common share with 1 vote. Pretty standard nowadays. I understand VCs want to buy "preferred" stock with liquidation preferences. How will that work into our dual-class stock system? Will we need to create a Class C share for VCs for the preferred stock? Or is it a special type of stock which does not require a new class of shares to be implemented? Also, some articles I read say that preferred shares have no voting rights, is that right? Does that mean VCs purchase shares with liquidation preference but with 0 voting power?