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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Smart_Money who wrote (2244)2/4/2002 10:00:18 PM
From: Dave Gore  Read Replies (1) of 16631
 
ALL: NEED YOUR OPINION? This stock (ACXM) is promising and was recommended today but went down to lower Bollinger Band support. I am wondering if this news today sounds a bit weird to you, too? I was researching it tonight, has a PE of 22 on forward earnings.

Here's the question...Does it sound like they might be potentially increasing their shares O/S from the current 87M to as high as 100+M shares? (i.e. $160M/stock price)

ACXM news:

LITTLE ROCK, Ark., Jan 31, 2002 (BUSINESS WIRE) -- Acxiom(R) Corporation (Nasdaq: ACXM chart, msgs) announced today that it has entered into a purchase agreement for the sale of $160 million of 3.75% Convertible Subordinated Notes due 2009. The size of the transaction was increased from the previously announced principal amount of approximately $150 million. The initial purchasers have an option to purchase up to an additional $15 million of notes to cover over-allotments.

The notes will be issued at 100% of the principal amount. The offering is being made to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933 and is expected to close on February 6, 2002. The notes, due February 2009, are convertible into shares of Acxiom common stock at the option of the holder at a conversion price of $18.25. The notes accrue interest that will be payable semiannually. The notes are redeemable at Acxiom's option beginning in 2005 and investors have a put option available in 2007.
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