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Technology Stocks : Buying IPOs on the open market
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To: $Mogul who wrote (2414)10/6/1999 2:38:00 PM
From: Ken Whiteside  Read Replies (3) of 5529
 
History of the DSLN deal from thefly

06/10/99 -- delayed from .
07/16/99 -- It is being called a must own.
07/22/99 -- Management sells well, but some folks think the company should be seeking another round of venture capital - not IPO money. If the demand for Internet stocks remain firm, they should be able to overcome this concern.
08/04/99 -- The deal was postponed.
9/7/99 -- decreased in price from 10.00 - 12.000 to 8.00 - 10.000
09/10/99 -- The biz model is okay, but nothing special. They provide DSL services to small and medium size businesses.
09/30/99 -- Despite changing the lead manager after a failed attempt last August, DBKS is not having a lot of success this time as well. With the downward revision in price and the decent IPO tape, we expect the deal to get done this time. Unfortunately, the issues that plagued them in August still remain. The institutions prefer the companies that supply them with the supplies (e.g. Copper Mountain-CMTN) versus an installation arm, which appears vulnerable to long-term competitor pressures. Once the RBOC's are no longer concerned about cannibalizing their existing high margin business, the price wars will begin.
10/04/99 -- The deal still has room to work.
10/05/00 -- The proposed size was reduced from 9,600,000 to 7,200,000 and the indicated price range was cut from 8-10 to 7.50 to 8.50.
10/5/99 -- decreased in size from 9600000 to 7200000
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