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: George Dawson who wrote (17939)	9/3/1998 11:55:00 PM
From: Greg Hull	Read Replies (1) of 29386

George, Thank you for taking the time to investigate the short position. If Mr. Snyder follows John G's guidelines, Ancor will not be able to raise much capital via a preferred convertible offering. 10% of our current market cap doesn't last many months. The average convertible deal is 10% of market cap, and this doesn't kill the stock price. A ratio of 16% is pretty bad. A 100% ratio, though is hugely awful. Let's hope they find a new avenue for financing that doesn't increase our dilution by an order of magnitude. And to think that I thought it was good that Ancor got that new round of financing in early 97. I wonder if the reward will ever be commensurate with the risk assumed by long term retail shareholders. Greg

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