Cutter and Buck (CBUK) Message Board

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Non-Tech : Cutter and Buck (CBUK)

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To: Dale Baker who wrote (114)	8/12/1999 11:12:00 PM
From: James Harold Alton	Read Replies (1) of 128

Dale, I called a broker at JP Morgan concerning the secondary offering and was told that all 1.7 million of the shares had been placed at $16. This should give the company about 30 million $ to work with, a nice position to be in. I can't figure out why the stock fell so much after the secondary was closed out. My current hypothesis is that the company gave out "deal sweetner" shares to some parties associated with the offering and those shares have been coming to market. Nothing with the company that I can find should make current LT holders want to sell at these prices and why would the shares just sold at $16 be coming to market? Wherever they are coming from it has been obvious to me that the MM's have had shares to move. This AM, trade after trade went off at the ASK and the stock refused to move. Later in the afternoon I noticed that the order size on the ASK had finally dropped to 1K and the stock started to move some...the first time in a while! I am hoping that the overhead selling is drying up but only time will tell for sure. Looking forward to finding out if the stock continues up Friday and the following week. James

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