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Technology Stocks : Intel Corporation (INTC)
INTC 35.53-1.1%Nov 14 9:30 AM EST
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To: Dakota Sullivan who wrote (49095)3/1/1998 4:13:00 PM
From: Sonny McWilliams  Read Replies (2) of 186894
 
Dakota. I was not really addressing the conversion costs. What I was trying to say is that you could look at it as if you bought Intel for 20.875 instead of 90. So, now you have to issue a new stock for 20.875 but you of course get rid of one warrant. You see, 1 new Intel stock created and 1 warrant gone. Same amount of outstanding shares now. But if all the warrants are not converted, there will actually be outflow of money for those warrants. Someone can evtl. buy more Intel stock and it will not drive the price of Intel up because all you are doing is, let's say, buy the warrants back that were not converted. In this new scenario you could buy Intel stock for a long time in order to make up for those not converted warrants. I guess I am not making myself completely clear. I try it this way: If all the warrants are converted there would be no advantage to the Intel stock just because there is now only a stock and not a warrant. The amount will be the same. In your words: X+Y are now 2 Intel stocks instead of 1 stock and 1 warrant. So, again, from here on out there will be double the amount of Intel stock(as far as the conversion of warrants are concerned) and therefore it will be the same as if it were 1 stock and 1 warrant. Let me know what you think. I probably messed you up even more now. gg. And I am putting myself out on a limb.

Sonny
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