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Non-Tech : Sonic Automotive

SAH 62.94

-1.0%

3:59 PM EST

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To: Roy S. Newman II who wrote (34)	7/8/1998 11:59:00 PM
From: Cary C	Read Replies (1) of 60

Roy it seems that you are very well versed in SAH 's operations. Thank you for your insight. I was aware of a certain portion of convertible preferred stock being used as part of the acquisition costs. I for one do not know how many convertible preferred shares remain. Do you by chance? What are your thoughts on the recent activity in the stock the last two days? As to my thoughts regarding a secondary offering, I submit what was reiterated in the annual report as food for thought. >>The Company expects to fund any future acquisitions from its future cash flow from operations, additional debt financing (including the Revolving Facility) or the issuance of Class A Common Stock or issuance of other convertible instruments.<< If not a secondary offering on common, what is the likely hood of a secondary convertible preferred offering? Cary

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