SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : HNS - (WAS ABYT)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tony schwarz who wrote (226)11/11/1999 10:27:00 PM
From: Fuza  Read Replies (1) of 254
 
An update on ABYT!

By: jrjr
Reply To: None Thursday, 11 Nov 1999 at 7:58 PM EST
Post # of 550


Update on Sands Bros. I received some info from Sands Bros. They have "managed or co-managed 20 public securities offerings with proceeds totaling over $1.75 billion" and "closed on over 35 private placments of debt and/or equity". They say they "are experienced in packaging emerging growth companies to the capital markets". They listed 5 recent private equity transactons- sinceMarch '99 - all involving convertible preferred stock in amounts of 1.5, 4.1, 13.4 (co-managed, 6.8 and 3.0 million $.
I spoke today with Rusty Saunders who is working on ABYT. He said 1. They are going to raise $5 million by private lenders, hopefully within 60 days.
2. This money is to give Co. more strength in dealing with other companies.
3. They hope/expect stock price to rise so that in 2nd quarter (6 to 9 months) they can do a stock offering to raise 20 million as a "war chest" to assist in mergers and acquisitions and\or other purposes.
4. He does not think the recent decline in stock price will affect NASDAQ application- thinks they can still get approved for listing. He looks for this to happen by end of year.
5. He believes Mr. Stephens (excuse misspelling in prior message) is good for this company, and that he (Mr. Stephens) has big plans/good ideas for the co. future.
6. Their fees comes out of $ they raise, so they have an incentive to make this work.
7. They will be restricted from making a market in ABYT stock while these money raising activites proceed, however brokers may purchase shares on the open market if they think warranted.
8. Mr. Stephens is scheduled to make a presentation to selected brokers/investors in NY next week (I thought he said 6 but that seems small).
9. Not unexpectedly, he says he likes ABYT and expects it to grow.
John


Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News