Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: Michael Young who wrote (71628)	8/3/1999 9:28:00 PM
From: Jan Crawley	Read Replies (2) of 164684

No. The conversion point is at a much higher level. They have kept the bonds and will stay short. What do you mean by higher level? The bond holders have the right to convert their bond-holdings to Amzn shares at $156 per share at ANYTIME. However, the auto-conversion will occur if Amzn trades @232 for about 20-30 days. Which means Amzn has the right to force the conversion @232 per shares if the above conditions are met. Therefore I think that, most of the hedging, if so intended, was done in 4/98 while Amzn was trading far above $156. There was some conversion$$ reported during 4/99's conference call.

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