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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?
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To: Gerald L. Kerr who wrote (112)8/3/1997 12:48:00 PM
From: Alex   of 1936
 
As to the lawsuit and the convertible preffered stock, the settlement was supposed to be part cash, part convertible preffered, and maybe part common stock. They are trying to turn this into an all cash settlement as that would be easier for them (somehow) and they have already sold some of the stock put aside for this.

At the time I spoke to someone involved with the settlement, he said that even though they are trying to sell the stock, they would not sell it for just anything; they are still trying to get a good price for it. But at that time I believe the stock was around $4 a share. Maybe they sold more of it by now. So it looks like to me that they will probably be able to make this an all cash settlement and avoid dilution. I suppose that is good for the rest of the shareholders!

Alex
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