Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

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To: Sam who wrote (1090)	8/18/1999 10:11:00 AM
From: Sam	Read Replies (1) of 1989

Does anyone understand this paragraph in the Sandisk press release put out this morning related to its secondary offering? <<Concurrently with the offering, Seagate Technology will enter into a prepaid forward contract with the SanDisk PEPS Trust in connection with a public offering of an aggregate of $200 million of Premium Exchangeable Participating Shares, or PEPS, of the Trust. The SanDisk PEPS Trust will offer the underwriters an option to purchase an additional $30 million of PEPS to cover any over-allotments in connection with the PEPS offering. The PEPS offering is being managed by Morgan Stanley Dean Witter. In addition, Thomas F. Mulvaney, senior vice president, general counsel and secretary of Seagate Technology, resigned from SanDisk's board of directors on Aug. 13, 1999. >> It appears to mean that Seagate is selling most of its Sandisk stake, but in a PEP trust, rather than straight shares.

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