Cadaver;
I've followed HMTT technology for a while and I noticed it faltering a bit today, and no wonder. The evening news on them is looking bad- I will paste it below. Does this seem like a decent short term short to you? Hopefully you'll get this before the open tomorrow. Comments anyone??
(check the graph, this one's sitting pretty high.)
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FREMONT, Calif.--(BUSINESS WIRE)--May 29, 1996--HMT Technology Corporation ("HMT Technology" or the "Company"; Nasdaq National Market: "HMTT") announced today the filing of a registration statement with the Securities and Exchange Commission in connection with a public offering of 4,000,000 shares of its Common stock and $150,000,000 of Convertible Subordinated Notes.
All shares and notes are being offered by HMT Technology, Robertson, Stephens & Company LLC, Alex. Brown & Sons Incorporated, Salomon Brothers Inc. and Hambrecht and Quist LLC will be managing the offering.
HMT Technology intends to use the net proceeds from this offering for prepayment of $47.0 million of Subordinated Notes, redemption of $59.0 million of Series A Preferred Stock, capital expenditures, working capital and other general corporate purposes.
HMT Technology is an independent supplier of high-performance thin film disks for high-end, high-capacity hard disk drives, which in turn are used in high-end PCs, network servers and workstations.
A preliminary prospectus relating to these securities may be obtained from Robertson, Stephens & Company LLC, 555 California Street, Suite 2600, San Francisco, CA 94104, Attention: Prospectus Department (telephone: 415/781-9700); Alex. Brown & Sons Incorporated, 135 E. Baltimore Street, Baltimore, MD 21202, Attention: Prospectus Department (telephone: 410/727-1700); Salomon Brothers Inc., 7 world Trade Center, New York, NY, 10007, Attention: Prospectus Department (telephone: 212/783-7000); or Hambrecht & Quist LLC, One Bush Street, San Francisco, CA 94104, Attention: Prospectus Department (telephone: 415/576-3300).
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
This press release contains forward looking statements that are subject to certain risks and uncertainties, including without limitation, those described in the company's registration statement dated May 29, 1996, a copy of which has been filed with the Securities and Exchange Commission. |
