I see 783,875 shares of Series C Preferred as of April 1999.
I see in the IPO prospectus that:
13. On July 1, 1997 and September 30, 1997, we sold 5,151,178 shares of our
Series C Preferred Stock at $8.93 per share to the following private
investors for an aggregate purchase price of $46,000,020: 3Com
Corporation, Anschutz Family Investment Company LLC, AT&T Venture Fund
II, L.P., Crosspoint Venture Partners 1996, Ericsson Business Networks
AB, Lucent Technologies, Inc., Newbridge Networks Corporation, Nortel
Networks Corporation and UUNet Technologies, Inc.
and
this prospectus assumes:
- - the conversion of our outstanding preferred stock into common stock upon the
closing of this offering;
If the preferred converted 1:1 then the original shares are now 2,351,625 and
if none have been sold, this represents about 1.51% or $646 m, not the 4.6% you stated.
Did 3Com acquire any additional shares?
Also 50% per quarter for 4 quarters is not 500% growth, it is 406%. |
