The fact that ARCC has chosen to pay the interest on its convertibles in cash rather than stock is a good sign, I believe. Although the market didn't respond to it, it should give investors a little bit of comfort that ARCC feels it has enough cash on hand to make interest payments and also to fund its morphing business plan. Finally, a sign from the company (no matter how small) that its stock is not worthless. Let's hope insiders start buying soon.
Ali
Allied Riser Communications ('ARC') Announces Interest Payment Plans
DALLAS, Dec 6, 2000 /PRNewswire via COMTEX/ -- Allied Riser Communications Corporation (Nasdaq: ARCC chart, msgs), one of the nation's leading providers of high-speed, IP-based broadband data applications and services, today announced that it would make the December 15, 2000, semi-annual interest payment on its $150 million 7 1/2-percent Convertible Subordinated Notes, due June 2007, in cash. The interest on the Notes is payable, at the election of the company, in either cash or shares of common stock. |
