CellularVision (CVUS): 2-way LMDS wireless cable. Message Board

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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable.

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To: EdR who wrote (1818)	4/7/1998 8:25:00 AM
From: James Fink	Read Replies (1) of 2063

Fleet Bank bailed out. I knew it! As for the announcement: <<The lynchpin of the financing package is the purchase by a CS First Boston affiliate of the Company's newly issued Series A Convertible Preferred Stock.>> The preferred stock is convertible into common shares at what price? If the conversion price is lower than the current $4 per share, the issuance of preferred stock means MASSIVE DILUTION. <<In addition, a private investment firm, has made a $2 million stock purchase commitment which can be utilized at the sole discretion of the company.>> What is the price per share of the "stock purchase commitment"? If this private investment firm is buying CVUS shares at 50 cents per share, this means more MASSIVE DILUTION.

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