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Technology Stocks : CDRD (CD Radio)
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To: Candle stick who wrote (240)10/3/1997 6:55:00 PM
From: Dave Gahm   of 904
 
Candle stick,

While you are correct that the preferred shareholders are probably keen to take their money and run, the common holders obviously have much to lose....which is why you are short. I have not had time to dig into the S4, but perhaps you can answer this question. I do know that both the common and preferred holders vote, but can the preferred holders alone stop the exchange?

And FWIW I am currently short CDRD and long SKYC, so I hope you are right about the conversion. Though if it doesn't happen the 3.5 million share stock offering should put a cap on the stock around 20, making it a relatively low risk short.

Dave
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