Question on Restructuring Deal-Newco Opening Balance Sheet

I have a quick question on a restructuring deal I'm working on - former common stock owners of bankrupt company have found new investors to purchase remaining assets and form Newco, where former common owners remain common stock owners while new investors have preferred interest. Half of the new investors money will go to creditors to acquire the assets. Common owners are not contributing cash to the opening balance sheet and preferred owners want to keep cash in the business for five years and exit around then with their preferred return. I can set up PIK interest for the preferred to satisfy that request, but my questions are what should common stock look like on the opening balance sheet and what should the proper exit for the preferred be?

Thanks.