I posted a link to the FBR report dated 3/7/2000. As you know, that report has a partial list of private equity.
Your information adds to the list, "Pivot Point" and "Integral Systems". Thanks. However, I believe your information is not entirely correct. LDP owns 4,615,386 shares (at $3.25) of New Focus (NUFO) not 2.3 million. This is set forth in a table in the amended S-1 filed with the SEC by NUFO. Also, in addition to the approx. 1.8 million shares of Mainstreet Networks they have $259K of warrants instead of $100K per your information.
In their report FBR, states that they have a list, which they set forth, of investments held in the insurance company only. They state they DO NOT have full information on investments held in the parent company.
(e.g., I can verify they have Knowledgenet and On-Link just to name two.)
However, they state because there is a large positive cash flow in the parent, and because the parent's investments are tax-free, there is incentive to hold more venture capital investments by the parent.
FBR's table shows only $83 million of LDP's estimated $180 million of private equity investments. FBR estimates $70 million is tax free (at the parent), and $25 million is convertible securities. This is one reason why we can get a pleasant surprise like NUFO, and why I was commenting that you get the feeling that very positive news could come out of this company at any time that none of us can predict. Reading Trueger's comments, I get the impression he likes it this way. "Hey, look what we got you didn't know about." Hehehe.
The public holdings as of yesterday's close are at approx. $540 million, a nice $70 million gain since FBR's report.
x, thanks for posting the info.; post anything else you might have. |
