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Non-Tech : Any info about Iomega (IOM)?
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To: Tim Cruise who wrote (3072)6/16/1996 4:26:00 PM
From: Dale Stempson   of 58324
 
A 15% discount is not uncommon for an IP0, I'm not so sure about secondary offerings however. I do not believe the institutions are restricted in any way from selling the shares they bought at $35. Part of the reason the price was set at this level was to try and keep them from selling. There is one significant restriction that currently is in place as a result of the secondary; Executive Officers and Directors cannot sell any shares or options to acquire shares for 90 days from the date of the prospectus. They are sitting on more than 13 million of them. I would imagine that they might be slightly motivated to come out with a good earnings report this quarter. It will be interesting to see what these insiders do when the 90 days elapse. What would you do?
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