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Strategies & Market Trends : Value Investing

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To: richardred who wrote (17514)	8/5/2003 11:01:32 AM
From: Wallace Rivers	Read Replies (2) of 78748

I like the concept of a stock at $9, with a book of $17.50. However, I am concerned with the potential dilution from new equity issuance. If one believes posts on the Yahoo! board, there is mention of a July 7 def14a filing at the SEC, where more details of the Warburg Pincus deal are laid out. According to those posts, the conversion price slides down were certain price targets not to be met. I don't like deals like this, to me it hints that the company is finding it difficult to obtain "conventional" financing. JMO, and, like Paul, I've been wrong too many times to mention.

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