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Technology Stocks : Blank Check IPOs (SPACS)
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To: eik who wrote (574)8/18/2006 12:52:19 AM
From: Carl Worth  Read Replies (1) of 3862
 
interesting, i was going by what had been posted previously, but it appears in looking at the S-1 that the warrants do indeed have a strike price of 6 bucks

this makes the pricing of the various PGRI entities even more odd

why would people not be willing to at least pay the intrinsic value of the warrants? either there is something which makes them less valuable than they appear, or people are quite sour on the business combination they announced

again, i'm looking for strong risk/reward rather than something that is "cheap," but perhaps the PGRIW will turn out to be an opportunity as well...i'm surprised the "big boys" aren't just shorting the common and buying the warrants, as that's a guaranteed profit once the warrants become exercisable, which will occur when they effect the combination (perhaps people are skeptical that it will be completed, who knows?)

in any event, thanks for the correction on the strike price, it's always better to have accurate info <g>
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