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Technology Stocks : Ampex Corp: Digital Storage
AMPX 12.09-10.9%Nov 4 3:59 PM EST
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To: WAI who wrote (3096)6/12/1997 12:53:00 PM
From: WAI   of 3256
 
I (and others) speculated earlier that Bramson might have needed
the cash from these sales to pay interest on the loan from the
400,000 share purchase of last year. I went back to check the
13D/A that described the agreement and found:

The Note shall bear interest,
payable annually on each December 31 during the term thereof and at maturity, at
the Applicable Federal Rate (as defined in the Internal Revenue Code); shall be
due and payable in a single installment on the fifth anniversary date thereof;
shall be secured by a pledge of all the Shares under the Pledge Agreement

---

So this particular expense is not why he needed the cash.

Best,

William
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