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Technology Stocks : Osicom(FIBR)
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To: Ploni who wrote (6863)5/19/1998 11:42:00 AM
From: Mama Bear  Read Replies (4) of 10479
 
Here's something I have been ruminating on this morning. As you know, when a dividend comes due on shares sold short, the short seller must pony up said dividend. It is of course one reason why the prices of dividend paying equities are more stable. How will this rights offering be handled in respect to the short interest? Assuming that Osicom issues 1 right per share of stock, there would only be 21.3 million (or the then outstanding) rights issued. Since there are about a million shares short, wouldn't the person with a short position be responsible for obtaining the right owed to the long who bought his borrowed shares? perhaps there is an element of short busting involved in this offering. Any comments?

Barb
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