SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: George Dawson who wrote (16991)7/2/1998 12:12:00 AM
From: iceburg  Read Replies (1) of 29386
 
George,

First of all, to my understanding, the series-C reg-D guys have stood pat through all this carnage. To the best of my knowledge, they are not contributing to this volatility. Without them converting, there is no dilution, potentially really disappointing the shorts.

The series 'B' can be converted at any time, simply they receive stock at 85% of the closing price whenever they decide they want to convert. The deal was $4.88 or 85% of the closing price. At $4.88 last I knew there were approximately 700,000 shares left to convert. That figure would be slightly above 1M shares at current prices. Remember their warrents incentive price was set near $7. They will probably convert when they are sure of a bottom.

The series 'C' conversion price is based on an average share price over the past 30 days so it would be in their best interest to convert those on the way up, not on the way down like we have been.

Quite frankly, to this point, I am embarassed to call myself an investor when I see how patient these guys are. There is a no shorting clause in the series 'C' agreement.

Steve Snyder could certainly provide a more complete synopsis if someone cares to call him.

Steve
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News