CMGI What is the latest news on this stock? Message Board

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Technology Stocks : CMGI What is the latest news on this stock?

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To: Robert Rose who wrote (11447)	7/5/1999 9:18:00 PM
From: LarryCPA	Read Replies (3) of 19700

I must say I am disappointed in the ENGA deal. Out of 6Million share being issued CMGI is offering us 600,000. (There are 95 Million shares of CMGI outstanding). It appears that, even as shareholders, we will be in a lottery. (I think that Wit opened more than 6000 accounts for ENGA and so either we all get less than 100 (which is not a great alternative) or some of us get nothing at all. It is also interesting that there is no weighting as to how large a shareholder you are (is DW in the lottery?). Compare this with Safeguard (SFE) which has been doing various rights offerings for nearly 20 years. (SFE has 33 million shares outstanding) Integrated capital is reserving 3.5 million of its 16.25 million shares for SFE shareholders (22%). USIT is reserving 1.7 million out of it's 5.2 Million share offer. (33%). The Safeguard plan give shareholders one right per 10 shares for ICGE and 1 right per 20 shares for USIT. The more SFE you own the more the more shares you get. I would think that CMGI could have reserved 20-30% of the deal for us instead of 10% What do you think? I still like CMGI and am still long, but that doesn't mean I can't question their decision.

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