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Technology Stocks : CDRD (CD Radio)
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To: Candle stick who wrote (347)11/19/1997 1:43:00 AM
From: Dale Baker  Read Replies (3) of 904
 
This is from the SC-13 filed Nov. 6. Looks like a successful secondary offering will put a 180-day lockup on converting. At least that what all the legal mumbo jumbo implies. You would have to read through all 874 SEC filings CDRD has submitted recently to ferret out the truth. Personally I'm content to watch the price drop on its own.

"This Supplement amends the restrictions on transfer provisions of the New
Preferred Stock as set forth on pages 15, 21, 22 and 87 of the Prospectus by not
allowing any Transfer of New Preferred Stock or Converted Stock (i) for a period
commencing on the Expiration Date and ending on December 22, 1997, (ii) for a
period of four weeks following notice by the Company that it is about to
commence the first public offering of Common Stock subsequent to the Expiration
Date and (iii) for a period of 180 days following the date of execution of an
underwriting or similar agreement for the first public offering of Common Stock
subsequent to the Expiration Date; provided that if a holder is prevented by
applicable law from owning assets subject to such restrictions on Transfer, such
restrictions shall be inapplicable to such holder and the Company will have a
right of first refusal with respect to all shares of New Preferred Stock held by
such holder that is exercisable for a period equal to the lesser of (a) the
applicable period specified in clause (i), (ii) or (iii) above, and (b) 90 days."
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