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Technology Stocks : Osicom(FIBR)
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To: Mama Bear who wrote (6871)5/19/1998 12:14:00 PM
From: David Pawlak  Read Replies (1) of 10479
 
Barb- That is absolutely correct....and I know that because I checked already. Someone who is short the stock will have to cover not only the stock, but the rights attached to the stock (when the rights become attached to the stock). This, I believe is their defence against arbitrage that is typically involved with these convertible preferred issues. It is also a reason not to be short the stock. Looks like they are finally learning from their mistakes of the past.

In addition, the cash infusion to Osicom as a result of the rights being exercised will give them ample cash if they decide to buy back the issue (preferred) at 116% if the stock trades lower than $3.5 for more than 10 days.
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