SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Roger's 1998 Short Picks
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ploni who wrote (1005)1/20/1998 10:25:00 AM
From: vegetarian  Read Replies (2) of 18691
 
Re: CFON, on one hand they say any outstanding preferred will be automatically converted to common by Dec 1999, implying that the company wants to convert them into common thus avoiding the obligation to pay 5%, on the other hand they have put this limit of 1.06M shares to be converted with the additional clause that any excess shares beyond this will need an approval of stockholders or permission from NASDAQ (I think they would do this under some sort of hardship clause if the shareholders don't approve it).

IMO, it may not be too difficult for them to get approval for issuing excess shares if they can do this convertible deal.
Anyone knows what 19.99% limitation they are talking about, is that a default SEC ruling that applies to all such convertible deals?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News