Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Pink Minion who wrote (1161)	6/13/2000 11:19:00 AM
From: Rajiv	Read Replies (1) of 1438

ETYS has closed a huge convert deal (100 MM). Link to 8-k edgar-online.com (subscription required to access link) key points of the document - Conversion rate = conversion percentage * lowest closing bid price during the 5 days before the conversion. The Conversion percentage starts at 100% and is reduced by 1% for every month for 15 months. i.e. after 15 months it becomes 85% which is the minimum. The investors are led by Promethean Asset Management The holders of the preferred stock have also received warrants to purchase up to approximately 5.0 million shares of eToys common stock at $7.17 per share over the next three years, subject to adjustment. Regards, Rajiv

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