Revlon stock offer to change common stock to preferred stock that will pay a dividend right now the common?

stock does not pay a dividend also can I sell the preferred stock anytime I want and will it have the same market value as the common stock ?Revlon stock offer to change common stock to preferred stock that will pay a dividend right now the common?
Yes you can sell it. No it probably won't have the same value as the common because instead of rising or falling with the market it pays a dividend. Preferred also loses its equity position if that is important to you or if the company goes south.