S3 (Multimedia semi's place 2be) Message Board

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Technology Stocks : S3 (Multimedia semi's place 2be)

SIII 0.0001000

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May 12 5:00 PM EST

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To: Dan Fiaschetti who wrote (8363)	3/20/1997 12:21:00 AM
From: Ricardo Villa	of 9477

RE: I was looking at some of the numbers on this stock the other day and was stuck by what seemed to be a large increase in the long term dept over the past year from about $17,000,000 to $117,000,000 something like that. Do you know what caused this? <<<< It was a convertible debt offering to finance the fab that went online late 1996. The debt can be converted to about 5 million shares of S3 stock at around $19. At the time the offering was made, S3 stock was indeed trading at around $19. If S3 were to buy back those 5 million shares (which it has already accounted for in the balance sheet, even though they haven't been distributed), it would pocket a cool $25 million. Hmmm.... something to think about.... are you listening Sandy... what do you think?? Ricardo Villa

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