From: Roger Sherman Monday, Sep 10, 2001 7:16 PM
View Replies (1) | Respond to of 26696
Allen dumped ALL his INSP shares, for $1.05/share...
New SEC filing today:
siliconinvestor.com
Paul had a total of 21,698,778 shares of INSP (6.7% of shares outstanding), and was the second largest shareholder behind Jain. He got EXACTLY $22,783,716.90 from the deal.
I believe his actual initial investment in GNET was approx. $300 million. The $426 million figure was based on his original offer to purchase 51% controlling interest from the shareholders, at $90/share. As the stock skyrocketed following his offer, the shareholders turned down the deal, and he ended up with approx. 30% of the GNET shares. However, he also funded the GNET work "above budget" for their broadband development of the Digeo portal.
Some of us have been waiting for Paul to say something (anything) regarding InfoSpace. I guess he has finally spoken to the world regarding what roll this company will be playing in his "Wired World" plans...Yes, spoken loud and clear!
Roger
PS. BTW, Paul told me at the CHTR shareholder's meeting earlier this year, that he seldom goes on SI anymore. I guess he's not the only one |
