WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 163.00

-0.4%

Nov 7 9:30 AM EST

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To: Craig Freeman who wrote (8951)	1/28/2000 5:52:00 AM
From: Ausdauer	Read Replies (2) of 60323

Craig, Since SNDK was anything but broke before the offering and has yet to spend any of the money they raised, why do you think they were in such a rush to build up their warchest? The UMC investment is illiquid. The basal $150 million level in cash is Eli's security blanket or his "rainy day" fund. I will refrain from calling it "petty cash". The $300 million in new funds raised by the secondary was to prove to Toshiba that they were serious about the JV and to get necessary cash in hand before the purchase of very expensive lithography equipment and other capital purchases to equip Dominion. With interest rates on the rise and the market bubble near its breaking point the last round of financing was simply a masterpiece. Ausdauer

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