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Technology Stocks : C-Cube
CUBE 37.68+1.7%Jan 9 9:30 AM EST
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To: ftmp who wrote (42872)7/14/1999 7:21:00 PM
From: John Rieman  Read Replies (3) of 50808
 
The Convert has a conversion price just below $31. C-Cube can "call" these bonds anytime, but if they call them and offer 104.12, everybody will convert them to stock. Hence the higher value on the market. I wouldn't mind a bond call. C-Cube pays interest on them, and they count the potential shares, per a Hagedorn adopted accounting policy, in the total diluted share count.

So, call the bonds. It won't cost a dime at a Share price of $37 or more. Would you sell them back to C-Cube for 104, or on the market, where they will be converted, at 117?
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