Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Phil(bullrider) who wrote (1033)	11/10/1999 3:03:00 PM
From: Zeev Hed	of 1438

Bullrider, it is not your typical floorless, there is no formula for conversion rate to be tied to the stock price. There is, however, one mention that the number of shares the debenture could be converted could be increased, but the terms are not in this document. I would guess that this clause is probably an antidilutive clause to protect the debenture holders against someone else within the debenture life getting a "better deal". To find the detail of these potential additional shares, you got to go to the appropriate 8-k, most probably, or the S-3 in which these shares will be registered. I hope that helps. Zeev Zeev

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