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Technology Stocks : CDRD (CD Radio)
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To: Russian Bear who wrote (216)9/3/1997 2:57:00 AM
From: Dale Baker   of 904
 
The key clause in the S-4 (with the key number unfortunately left blank). Regardless this means more dilution on the horizon. Hard to see what CDRD gained by converting the old delayed deal to this:

Each share of New Preferred Stock will be convertible at any time, in whole or in part, at the option of the holder, unless previously redeemed, at a conversion rate of ___ shares of Common Stock per share of New Preferred Stock (the "Conversion Rate"). The Conversion Rate will not be adjusted at any time for cumulative dividends, but will be subject to adjustment for the occurrence
of certain events affecting the Common Stock. Upon conversion, holders of the New Preferred Stock will be entitled to receive in cash all cumulative dividends.
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