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Technology Stocks : Orbital science (ORB)
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To: lfman who wrote (1815)6/24/1998 11:24:00 PM
From: jgibbs  Read Replies (2) of 2394
 
I'm not quite sure what you mean. Schwab is apparently participating somehow in the underwriting syndicate and has access to a number of ORBC shares to distribute to their special clients. They apparently participate in quite a number of IPO's.

I did not receive an offer from them to participate in the ORBC IPO as you did. I was told I had to be a Select Client in order to participate, which meant having an account of something like a million or else at least 25 grand with an active trading history. I qualified on the latter score and now have been designated a Select Client. I can now indicate an interest in any of their IPO's after I have requested and received a prospectus. I do not know much more than that including whether I will receive any shares or not. I can still back out which I may do.

The fact that they called you makes me a little hesitant too unless you're one of those folks who trades a lot or has a huge trading account. I hope it's the latter.

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