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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.23+1.8%12:59 PM EST
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To: Jeff Mills who wrote (7490)6/25/1998 12:48:00 AM
From: Gary Korn  Read Replies (1) of 164684
 
On AMZNs Mar 98 10-Q filed mid-May it clearly states AMZN has 100 MM shares authorized.

Jeff,

Don't hold me to this, because it is from memory, but I distinctly recall that AMZN has sought shareholder approval for an additional 200MM shares, for a total of 300MM authorized shares. That approval will be announced (or already was announced) at a shareholder meeting, whenever that occurred.

Having posted this message, I see that someone else has posted the definitive answer. 200MM additional shares (for a total of 300MM) were approved on May 28.

I had wondered at the time why AMZN, which already had 100MM authorized shares, but only 24MM oustanding, needed any additional shares at all, let alone 200MM more. Now that AMZN has almost 50MM shares outstanding and is back above pre-split territory, with another split presumably looming, the earlier plan for additional shares seems almost prescient (spelling). If one were into conspiracy theories . . .

Gary Korn
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