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Technology Stocks : NewCom (NWCM)

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To: Cool Hand Luke who wrote (618)	9/16/1998 9:49:00 AM
From: Jason Flora	Read Replies (1) of 662

NewCom Note Due to Aura Restructured Business Wire - September 16, 1998 09:45 WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Sept. 16, 1998--NewCom Inc. (Nasdaq:NWCM) Wednesday announced that it has reached an agreement in principle to restructure its approximately $17 million note that is due to Aura Systems Inc. (Nasdaq:AURA) on Sept. 19, 1998. The restructuring involves an initial partial payment, the issuance of a $3 million convertible note to an investor in Aura. The unpaid balance of the restructured note will carry a 9 percent annual interest rate. At the company's option, the convertible note may be redeemed at any time. After Dec. 1, 1998, the company has the right to redeem the convertible note in three monthly installments of approximately $1 million each subject to certain terms and conditions. The agreement is conditioned on the execution of definitive documents. The $17 million note was a result of money advanced by Aura to NewCom prior to NewCom's IPO, which was in September 1997. Aura owns 69 percent of the common stock of NewCom.

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