IPO info in Q10 report

The Q10 says that L3h has to pay 7% dividend yearly until completing the IPO. It also says the DoW preferred shares convert with a 20% discount and 3% warrants. Also there is some 1.422B payback that L3H has to give the government if something doesn't happen. Also the previous CFO said that IPO proceeds remain with the subsidiary so no help in paying down AJRD debt, which all remains with the L3harris parent company. Also L3harris stockholders do not receive any stock directly in the new company, so they lose 20%+ equity in the missile segment. I am trying to understand how the previous CFO says this Unlocks value for L3harris stockholders?