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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!
RACE 333.17-1.6%Jan 30 9:30 AM EST
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To: Marshall who wrote (22959)8/14/1997 10:55:00 PM
From: WHL   of 33268
 
Capital may not present a problem for a company like RACE. I recall when Dime Bank needed money ASAP because their reserves had dropped below requirements and the Fed was considering shutting them down. Each shareholder was given an opportunity to buy a share of stock at $4.00 for every share that they already owned (it was trading at about $5.50 at the time). The shareholders dumped in enough cash to eliminate any worry about the reserves- and the stock climbed immediately to $8.00 per share. Everyone who bought made $2.50 on the stock they owned and another $4.00 on the stock that they acquired. With its tiny number of shares outstanding and alot of years of being around already behind it, Race might be in a position to do a similar type of thing to eliminate its working capital concerns.
If the stock were offered at $4.00 per share, that's up to $20M in new capital with no ownership dilution at all for those who buy in.
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