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Technology Stocks : Icon CMT Corp. (ICMT)
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To: cyberman who wrote (114)9/14/1998 10:44:00 PM
From: Toby Zidle  Read Replies (1) of 128
 
The basic deal is that an ICMT shareholder gets QWST shares worth $12 for each ICMT share. Since we don't know the price of QWST at the time of the ICMT shareholders' meeting, the terms define a variable ratio of QWST shares for each ICMT share, but it will come out to be worth $12.

There are two exceptions in case the price of QWST tanks or soars. If QWST tanks by the time of the ICMT meeting, there is a maximum value on the exchange ratio. In that event ICMT holders would get less than $12-equivalent. It defines a maximum equity percentage that QWST is willing to pay for ICMT. Conversely, if QWST stock soars, ICMT will get no less than a specified minimum exchange ratio, which will then be worth more than $12 per ICMT share.

The exceptional cases are probably not too likely, so the simple answer is we get $12 in QWST stock for each ICMT share.
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