[Soros Position]
>>Since the Soros folks didn't dump their shares earlier --- nor short them...
If that's the case, then I figure that the Soros group has:
1,000,000 shares of AMTX @ 15
A Warrant to buy 300,000 more shares at $17.45 expiring on December 17, 2001
A Warrant to buy 300,000 more shares at $25.00 expiring on December 17, 2001.
If my numbers are correct, there would be no real reason for them to sell below 15. And, again, if my numbers are correct, it sounds like Soros made a $15M investment in AMTX (pocket change to them) with two "free" calls on the stock, at $17.45 and $25, thrown into the bargain. And if that is, indeed, the case, it sounds like they may just put all this away and take a look at it in 2001, when they'll either have a ten-bagger or they won't -- and they may not really care too much what their small (to them) investment does between now and then.
The only thing they may be bothered about is the fact that they're about to buy $5M of a $12.50 stock at $15. Those two warrants which they got for "free", though, should alleviate their pain -- especially if AMTX is above $17.45 in 2001.
Am I missing something somewhere?
-- Walt |
