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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

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To: Clayleas who wrote (2425)	9/8/1997 12:33:00 PM
From: Andrew	of 31646

The $4.25 Public Warrants may be redeemed if the closing bid price for the Common Stock has exceeded $6.375 for at least 20 consecutive trading days and each of the seven trading days immediately preceding notice of redemption. I guess I am confused. It would seem to me that if the requirement is for the stock to close above $6.375 for at least 20 consecutive days , then there would be no way the stock could close below $6.375 on each of the seven trading days immediately prior to redemption. Unless this means that the redemption notification has to be done IMMEDIATELY, e.g., they can't let one day go by after the 20 days requirement has been achieved in case the price slips BELOW $6.375, even if it's for only one day. If that happens, they have to wait for another 7 $6.375+ trading days to go by. Whew! Did I just answer my own question? I'm not so sure redemption is at hand since the stock is VERY close to closing below 6 3/8, and if it does drop down then we have to start all over again. Interesting that they didn't change the call terms when they dropped the exercise price for the warrants.

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