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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT
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To: Rob Preuss who wrote (1119)11/18/1999 8:47:00 AM
From: joemjo  Read Replies (1) of 1250
 
Rob,

P.S. Now that I have read the thread I see you definately know but I'll keep the post

I suppose that you have found out by now. But, for the record.

ACTM placed their secondary offering Tuesday night. It seems to have been very well received in that instead of offering 2.75 million shares they issued 3.025 million shares. Then the immediate reaction was to move upward. I think that shows institutions not getting all that they wanted so they buy more on the open market. Until yesterday buyers were waiting to see how many they would get at the offering so they didn't buy on the market which gave us the anemic reaction to the excellent 3rd quarter report. Both CLS and FLEX moved up nicely after clearing the air of the equity offerings and I expect the same from ACTM. Also it increases the market cap up close to 500 million which firmly plants this issue on institutions radar screens which play in the small cap market. And lastly it reduces Mr. Pino's ownership to approximately 30% from 40%. I think this is a plus as non-insider shareholders sense they "own" the company instead of at the whim of Mr. Pino.
Did you see my post on the ECM thread in regards to new institutional ownership?
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