THNS - Technest Holdings (Prev. FNTN) Message Board

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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)

THNS 0.00

Jun 7 5:00 PM EST

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To: dharampal luthra who wrote (14132)	10/10/1999 4:11:00 PM
From: dharampal luthra	Read Replies (2) of 15313

LURKERS' CORNER: Harry, A message for lurkers corner: It appears that there is some confusion on the thread regarding the mechanics of the APO. It is my understanding that the way it works is that the new shares are sold (and the company receives) the market price on the day the shares are priced (or sold to the public). For an example, refer to Seagram (NYSE:VO). Per edgar, they filed an APO by filing form S-3 on 5/13/99. They amended it with form S-3A on 5/24/99. They amended it again with form S-3A on 6/10/99. On 6/16/99 they filed the prospectus (form 424) that contained the actual price of the shares (which was 50.125). According to E-trade the offering priced on 6/15/99 at 50.125 per share. The prices listed by Seagram in the S-3s were just an estimate, and had no bearing on the actual price that they received. ------------------------------------------------------- Harry, Lurkers corner - PS - on VO, go to a historical price listing and you will see that on 6/15/99 (the day of the APO pricing), the stock was trading at 50.125. ---------------------------------------------------------

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