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Technology Stocks : Internap Network Services Corporation
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To: Madharry who wrote (615)9/12/2003 1:19:05 PM
From: Czechsinthemail  Read Replies (1) of 1011
 
Madharry,

I was also put off by the terms of the private placement including the repricing the conversion on preferred shares. It may be that it was part of the package to get preferred shareholders to OK the netVmg acquisition.

Of course, that purchase remains pretty much a black box, since INAP management has not disclosed much information about the terms.

I'm not sure INAP is an especially poorly managed company, but their IR/PR certainly leaves a lot to be desired. The paucity of information about the netVmg deal, the silence around whether they are or aren't planning to effect a reverse split, and their failure to explain the logic behind the private placement all create a greater degree of uncertainty about what/how the company is doing.

Today there seems to be a lot of excitement ahead of the company's Wall Street presentation. Hopefully, they will be willing to share more information in that forum.
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