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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Cathi Wierzbicki who wrote (1016)10/29/1999 12:19:00 PM
From: Larry Brubaker   of 1438
 
Cathi, I looked at the PR for the SCUR financing, but not the filing. From the PR, it looks like a leaky floorless (e.g., shares are sold at a discount to the prevailing market price at the time the shares are sold).

However, you may want to read the filing for further details, because the PR says something about the company can set a minimum price (e.g., a floor).

While I did not look at this in any detail, I would much rather see shares sold at a fixed price than a variable price.
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