Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Zeev Hed who wrote (562)	7/8/1999 2:18:00 PM
From: Greg Hull	of 1438

Zeev, << It will be interesting if the "street" support CMGI staunchly, and everyday at the end of the day they bring the price back up. That would be a day trader's paradise.>> I think I'll be watching for amusement if not profit. According to my calculations the average closing price for the 10 days prior to 6/29/99 was $95.14 (the average closing bid should be very close to this). Therefore the initial conversion price is $142.72. Since the repricing formula includes the 0.9075 multiplier, so long as the closing bid prices for each tranche repricing period does not exceed $157.26 on average, the actual conversion price will be better than the initial price. If the stock price exceeds the April highs of $165, Shoreline Pacific has no incentive to depress the price. <<You know, Greg, being "English Challenged", I am forced to read this legalese almost word for word, thus those small details rarely escape (VBG).>> You give me no evidence of being "challenged". If this be the case you have converted this debit into quite an asset. Thank you for the conversation. Greg

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