Brightpoint - CELL Message Board

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Technology Stocks : Brightpoint - CELL

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To: Craig who started this subject	3/28/2001 10:21:26 AM
From: smallcapmaven	Read Replies (1) of 1999

The company used $39M to pay down a considerable amount of their debt at nearly a 50% discount to the level that the debt was issued due to the distressed nature of the convertable debt...The affect is 2 fold: 1) lowers the future float... 2) gives stockholders a better return in the event of a takeover... The current convertable position in the stock is only 250k that is convertable into 19.19 shares...As the company buys the convertable back it lowers the arbitrage position of the convertable holders... This company is profitable and earns $0.50 a share on revenue of over $2B...The market cap is only $150M and the company is the possible subject of a takeover IMO...

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