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Technology Stocks : The New Qualcomm - a S&P500 company
QCOM 166.81-4.1%3:59 PM EST

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To: bananawind who wrote (587)8/5/1999 4:42:00 PM
From: Art Bechhoefer  Read Replies (2) of 13582
 
Jim, that's a great insight and really explains the long periods of disinterest by investment firms. Just to add to your point, a couple of years ago QCOM made a private placement of convertible preferred stock in order to raise more cash. A private placement, by definition, requires no registration of securities, no legal fees, nothing but an agreement with the buyer (probably in CA to avoid any federal regulation). This was another example of an efficient way to raise money, but it didn't benefit any of the underwriters who normally would take their cut.
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