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Technology Stocks : CheckFree (CKFR)
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To: AugustWest who wrote (1834)2/21/1998 9:47:00 AM
From: TLindt  Read Replies (3) of 8545
 
10 Q is up......one thing to note for the next Q?

"7. On October 29, 1997, the Company announced a ten year processing agreement with a strategic partner and executed the definitive agreements on January 8, 1998. Under the terms of the agreements, the strategic partner will acquire 10-year warrants exercisable at $20 15/16 per share for 10 million shares of the Company's common stock. Three million warrants vest upon execution of a processing outsourcing agreement and the Company expects to incur a non-cash charge of between $30 million and $50 million dependent upon the market value of the stock on the execution date, which is expected to occur before the end of the fiscal year. The remaining seven million warrants are to vest upon achievement of specific performance targets set forth in the agreement. Any shares acquired by the strategic partner upon exercise of the warrants will be subject to certain transfer and other restrictions."

sec.gov
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