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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: GVTucker who wrote (1736)3/30/2001 1:14:02 AM
From: Bernard Levy  Read Replies (1) of 1860
 
A question regarding ART's capital structure: is
it correct that Qwest and Oak hold convertible bonds,
but not the common?

If so, the next step is rather obvious. The business
plan is all right, the common holders get wiped out,
the debt gets converted in stock (hopefully 100% of
the debt), and either existing debt holders or a few
new ones contribute some more $, and the company
has a pretty good shot at being successful. In other
words, a prepackaged BK (similar to what happened to
MDS operators like CAWS) is the more likely occurrence,
instead of an asset sale like with GST or NPNT.

In fact for those who remember, buyers of the new CAWS
stock after restructuring made off like bandits when
WCOM bought the company. In other words, a debt-free ART
could be an interesting investment.
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