USAB - USABancShares.com Message Board

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Non-Tech : USAB - USABancShares.com

USAB 75.00

0.0%

Dec 29 4:00 PM EST

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To: VeloSpeed who wrote (2066)	9/29/1999 4:16:00 PM
From: Tom Borst	Read Replies (1) of 2419

Info on the SPO . . . I just spoke with Sandler O'Neill again; my understanding is Tepper doesn't want to give away the company with the stock price being beaten down so low. They are authorizing 1.4 to 1.5M shares at a slight discount to current market value . . . just to get them through the 4th quarter. They'll raise additional cash when the time and price are better, but as you can see, this is not the best time to do an offering! I spoke to just about everyone there is to speak to at USAB and Sandler O'Neill, based on what I know, I'm buying into the SPO for about $200k and several insiders are also buying into it! I have to confirm my order with Sandler tomorrow morning at 8:30am. That's all I have, if you want more info pick up the phone and call them yourself. Sandler (212) 466-7732 and USAB (215) 569-4200

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