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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 64.54+7.7%2:32 PM EST
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To: Michaelth1 who wrote (16997)9/19/2000 10:43:38 PM
From: dwight martin  Read Replies (1) of 29987
 
Bear Stearns Cos. (BSC) will buy up to $105 million
in Globalstar stock, at a discount to the market price, in a series of tranches at
times to be determined by Globalstar. Bear Stearns will then resell the stock,
in private placements or in the open market.

This is from D-J newswire, via siliconinvestor.com

SO LET'S NOT MYSTIFY THE DEAL. Bear Stearns agrees to buy an indefinite number of shares, capped at $105MM. In return for giving GSTRF the right to say "when," Bear gets a discount on the shares.
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