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Technology Stocks : Wind River going up, up, up!
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To: J. Kerner who wrote (1794)8/23/1997 12:55:00 PM
From: Mark Brophy   of 10309
 
Thanks for the informative conference summary.

The thread is richer due to your tireless and thorough effort to summarize the major points. Unfortunately, you left out one minor detail.

When Ablemann was asked why he chose to issue a dilutive convertible rather than a straight bond, the CEO replied, "We were very opportunistic - the market is looking favorably upon our company." He followed by mentioning the 26% premium, which implies that the stock price was 38 1/2 at the time he concluded that it was better to issue 2.88m more shares than pay a slightly higher interest rate.

Since the conference call, the stock price has dropped from 46 to 42, so somebody understood that he was saying the stock is overpriced.
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