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Technology Stocks : ISCO-Illinois Superconductor
ISCO 0.160+14.3%Nov 6 3:07 PM EST
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To: Rajiv who wrote (396)2/28/2000 3:19:00 PM
From: EepOpp  Read Replies (1) of 524
 
$1.0 million in aggregate initial principal amount of senior convertible notes, bearing annual interest at 10% payable in kind or at the Company's option (or if the Company does not meet certain requirements commencing November 5, 2000), in cash, which notes ("New Notes") are convertible (based on their principal amount plus accrued interest to the extent such interest is paid in kind) into Company common stock at a conversion price of $0.25 per share, and mature in January 2, 2001;

Rajiv,

Thanks for the heads-up. It looks like the company can opt to pay out the 10% rather than letting the notes convert at .25 per share. Am I reading this correctly? If so, would management really choose that course to take?

EepOpp
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