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Non-Tech : E4L, Inc. (NYSE: ETV)
ETV 13.90+1.3%Nov 21 4:00 PM EST
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To: Todd D. Wiener who wrote (220)8/28/1997 11:28:00 PM
From: John Arnopp   of 1080
 
Todd, what I'm wondering about is your statement: Perhaps this is an equity infusion by Safeguard, which may now own 30% of NM.

The press releases had the following statements:

"National Media Corporation (NYSE:NM) announced today that it has reached an agreement in principle to sell an aggregate of $20,000,000 in convertible preferred stock and warrants to purchase shares of the Company's common stock to a limited number of institutional investors who are not presently affiliated with the Company."

and

"It said the institutional investors it had agreed to sell the preferred stock and warrants to are not presently affiliated with the company. "

which lead me to believe that this is NOT the exercising of SFE's warrants. Do you have some other reason to believe SFE exercised their warrants, or do you think they may do so soon, as a sign of good faith, perhaps?

Thanks (and hoping),

--John
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