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Technology Stocks : Nanovation Technologies,Inc.
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To: freeus who wrote (363)2/18/2000 7:00:00 PM
From: Madharry  Read Replies (1) of 417
 
My understanding is that one gets shares at a 3:1 ratio but that there are 2 components. of that 1 share: .9 gets exchanged for a share that is ultimately .9 of Nanovation which can be registered and traded 3 months after the lockup expires for the venture capitalists and .1 represents a tail which may or may not be there after 3 years. In the meantime the exchanged share are completely illiquid. Not clear to me what happens if there is a buy out of nanovation. I decided that for under 30 I will just wait and see what happens. I am not real happy about the deal but I am by no means certain that the deal gets done this way.
and despite what many shareholders believe my opinion is that its more crucial for Nanovation management and vc-s to get the ipo done than it is for stamford shareholders and we have liquidity now and will lose it while they will gain it and have earlier than we do and we are not being compensated for that factor in the current agreement. My call is that if we sacrifice liquidity we should receive more shares in compensation or get rights to purchase Nanovation at IPO prices. and that is what I would have negotiated for had they hired me to do the negotiating. With my puny amount of shares I am just sitting tight and will wait to see how it plays out.
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