Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Lee Walsh who wrote (863)	8/24/1999 7:49:00 AM
From: Mark Ivan	Read Replies (2) of 1438

Lee, Interesting, but one thing doesn't make sense: OK, what do you think really happened here. TK...shorted the crap out of the stock....AGAINST A DEBT POSITION.... They probably took in about double what they had in debt...and then (the nerve of them) Converted that debt...(which they had already made back in selling stock) into a huge chunk of shares that basically made them the largest shareholder in the company.... Hostile Takeover. If they made all their money by shorting the stock to death, then the 2MM shares (or a large chunk) they received would have to be used to cover their short position. Thus, how big of a shareholder could they be?? Mark

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