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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: surelock who wrote (868)8/24/1999 1:40:00 PM
From: Mama Bear   of 1438
 
surelock, there is usually a provision in the language of the convertible that prevents the convertible holder from beneficially owning more then 4.99% of the common at any one time. While the scenario you suggest is possible, it is unlikely because it would be rare that a company that has to stoop to this type of financing would be attractive. No one knows this better than the folks who provide this kind of financing.

Barb
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