3DFX Message Board - Msg: 3625266

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Technology Stocks : 3DFX

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To: Burlitis who wrote (1728)	3/6/1998 2:39:00 PM
From: Piranha	Read Replies (2) of 16960

One thing that stands out in my mind is that the press release says, "3Dfx Interactive will have approximately 14,600,000 shares of Common Stock outstanding after the offering." The reason it stands out is because the 4Q97 earnings report states, "14,127,000 shares were used in the per share calculation." What exactly does this mean? Did they purposely base the 4Q97 numbers on the post-secondary share numbers knowing that the secondary was already in the works? In any case, it seems to me that the secondary has no real diluting effect. Price/volume action today seems to support that theory. Speaking of volume, it looks like there were a significant number of huge blocks traded today. I wonder if the secondary allowed funds to buy shares in volumes that were previously unavailable.... Piranha

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