You talking about Merrill, that was this morning... and the subscribers got it three days ago. I wouldn't stick around for 70, bail at 62 because it will go flat for two months after this run IMHO
Jerry, you think ML is the firm behind the offering and pushing it???
"
Wednesday February 4, 12:04 pm Eastern Time
Jacor offers stock, notes
COVINGTON, Ky., Feb 4 (Reuters) - Jacor Communications Inc and its wholly owned subsidiary
Jacor Communications Co said Wednesday they made three separate public offerings yesterday to
raise gross proceeds of $500 million.
The parent company offered 4.56 million common shares at $50.50 each, for gross proceeds of
$230.3 million. Net proceeds to the company are anticipated to be about $221.0 million.
Jacor Communications Co offered $120.0 million of senior subordinated notes for gross proceeds of
about $119.5 million. The notes were priced to yield 8.05 percent with a coupon of 8.0 percent and
are callable after five years.
The parent company also offered $383.6 million of zero-coupon senior liquid yield option notes, or
LYONs, for gross proceeds of $150.0 million.
The yield to maturity of the LYONs is 4.75 percent and each LYON is convertible, at the option of
the holder, at any time on or prior to maturity, into 6.245 shares of common stock. " |
