SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Plaintree (TSE:LAN,NASDAQ:LANPF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TechAlive who wrote ()3/26/2000 8:49:00 PM
From: pjd22  Read Replies (2) of 1606
 
Private Placement Sold Out

I contacted IR at LAN and they directed me to Taurus to get more info on the PP.

I called Taurus on Friday and spoke to the person handling the PP stating that I was interested in buying. This is the highlights of the conversation:

- Private Placement is completely sold out and has been since Wednesday and the demand has been strong.
PJD22 Comment: Nice to see the high demand and support as it sold out in 10 days well before the Mar. 30 closing date

- minimum block was $150,000; they will file a prospectus after the closing date (Mar. 30,2000) and it takes 90 to 120 days to get it approved. This means that those buying the PP cannot exchange their warrants for at least this long, thus they will not be able to freely trade there shares until then. There could even be a longer hold period.

PJD22 Comment: Only serious players participated. Another good sign of support. As well, to those who complained about this deal,how many of you would have been willing to put up $ 150,000 when LAN was trading in the $1 range if someone told you that you had to hold your stock for at least 3 months. The deal was structured properly to attract investors and raise the $10 million they wanted. The other benefit is that there is incentive for LAN to keep the stock at least above $2 and as high as possible in order to entice the warrant holders to execute the second part of the deal( two halfs for one common share at the lessor of $2 or close price on day the PP close - Mar.30). This means if they get all of these warrants executed at $2 they will have another $5 million to play with down the road.

All in all I think it was a good deal. I think that this dip in price was profit takers combined with those that didn't quite understand the PP and how it works. It provided an opportunity to accumulate and we won't see these prices for very long. Now that the PP is sold out they can focus their attention back on executing their strategy as opposed to selling the PP. Watch for an increase in action with the end of the quarter approaching fast......especially with the anticipation of a profit announcement.

PJD22
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News