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Technology Stocks : CDRD (CD Radio)
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To: BARRY ALLEN who wrote (529)12/30/1997 10:44:00 PM
From: Dale Baker   of 904
 
It means that a big chunk of the convertible preferred stock is held by offshore investors registered in Bermuda and the Cayman Islands. Notice that if they convert, they would only hold 9.99% of CDRD, which keeps them below the threshold where they could not sell that stock, per the Standstill Agreement.

Others here have researched the convertible terms in more detail than I have. To me, this means CDRD still has a large sword hanging over its head.

Longs have to hope it doesn't drop in the near future.
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