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Technology Stocks : Osicom(FIBR)
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To: CMS27 who wrote (6832)5/18/1998 12:00:00 PM
From: Bryon Bothun  Read Replies (1) of 10479
 
Actually, CSFB doesn't own any shares of FIBR at the moment (as a result of Friday's deal anyway). They cannot convert for 90 days minimum. This rights offering is supposed to be done in July (according to IR). If the Exercise period for the rights is approx 35 days this process will be completed about 2 weeks before CSFB has any opportunity to convert. I assume that they knew about this deal also. I did not see any provision in the 8K to protect CSFB's investment from this type of spinoff. I think this means that CSFB was investing in FIBR minus net +arm or that FIBR will retain a significant ownership of the new company. Does this make sense? If so, what does it mean?

Thanks,
Bryon
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