(Soros)
Walt;
From the S-3
>Of the 1,629,001 Shares offered hereby by the Selling
>Stockholders (1) 604,913 Shares represent a portion of the
>741,913 Shares issued to the Investors in October and December
>1996 in connection with the initial $10 million in equity
Do have any idea where the number 741,913 comes from? If they
were issued 741,913 in Oct and Dec, 424,088 as part of this S-3
and 600k warrants down the road there appears to be an extra 137k.
604,913 appears to be the correct figure.
>>>Investment Agreement. The prices per share to be paid by the
Selling Stockholders for shares of Common Stock to be acquired by them pursuant to the Investment Agreement represent a 15% discount from market prices of the Common Stock over an agreed upon pricing periods commencing on delivery of the applicable Put Notice<<<
Walt, if I'm reading this correctly the Greenberg article is incorrect. If Soros shorted the stock he could cover with shares bought at 85% fair market value, price to be determined over the "pricing period".
Greenberg:
>>>the deal allows Soros to use shares issued by Amati to close out
its short position. That's right, the Soros group will short Amati's stock and rather than actually purchasing the borrowed shares, Amati will give those shares to Soros...If all goes well, Amati could walk away from the deal with up to $15 million in cash. Soros could walk away with up to 1.2 million shares in Amati stock, for which the group has paid nothing.<<<
If he didn't sell any of the shares issued looks like he'll be long
a little over a million at the conclusion of this deal. What is the
threshold where he has to file with the SEC, is it 10% outstanding
shares? (1.8 million in this case)
Regards Dave K. |
