The New QLogic (ANCR) Message Board

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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Eleder2020 who wrote (17930)	9/3/1998 2:30:00 AM
From: Kerry Lee	Read Replies (1) of 29386

You are correct about Reg D Series B guys shorting against the box ( preferred shares ). They are the primary reason behind the huge increase in short interest last month. This was confirmed to me last week by an Ancor official. As of last week, the Series B guys had under $3 million worth of convertible preferred still to convert and if memory serves me correct, there is approx $5 million in total Reg D left to convert as of 1 week ago. I do not know how much of the past week's trading volume was Reg D conversion. Also, based on the fact that Series C guys are held to converting a maximum of 15% per month, the total shares outstanding including the impact of these convertible preferred would be somewhere between 16 and 17 million shares at the end of October, if you are trying to calculate the market valuation of ANCR.

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