Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Don Westermeyer who wrote (6924)	11/12/1997 10:26:00 PM
From: Roger A. Babb	Read Replies (2) of 9285

Don, I just finished looking at the AOL convertible deal. The bonds are at 4% and convert at 104.38 stock price. The conversion price is fixed, this is not like the Zitel deal which uses a "floating" conversion price with a ceiling but no floor. The AOL deal is not so bad for shareholders except that it sort of caps the stock price at 104. And they now have a lot of cash to work with.

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