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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Nine_USA who wrote (23565)8/3/1999 8:00:00 PM
From: Nine_USA  Read Replies (1) of 29386
 
Now I see how easily a message is misconstrued. Earlier today,
I posted this:

<<The 2dry underwriters have a deal which is similar in some ways
to that of the last preferred.

The underwriters will control 10% of the total common, whereas
the pref'd controlled about 12% when it was first issued.

The pref'd deal was guaranteed by virtue of the discount on the stock price. While not guaranteed, between the underwiters and the market makers, the price can be brought down from 33-34 to mid twenties.

This makes for nice profits to the MMs, the underwriters,
and their institutional (stock buying) clients.>>
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Someone on Yahoo read my message and posted this on Yahoo:
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check out SI thread
by: cisko96 (33/M/Cleveland, ohio)
12471 of 12484
Some guy on there. herb herman I think his name is. Says the underwriters have a deal with the company
where instead of bringing the secondary at 33-34 they can bring it in the mid twenties so that the institutions
can make some jack. Has anyone one heard anything like this. Please someone read the post. I figure the stock
was down with the market. 50 day moving average is approaching...that should hold..then again after seeing
this past few weeks anything is possible.

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Obviously, in no way did I suugest that there is a 'deal'
between the company and the underwriters other than to bring
the secondary to market at a time and pricing satisfactory to
Ancor.
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