Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 11.17

+1.6%

Jan 20 3:59 PM EST

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To: Sal Davis who wrote (3478)	9/22/1998 12:26:00 AM
From: David Wise	Read Replies (1) of 17679

Sal, question, did you ever hear any good reasons why Ampex had to go with a 12% loan this day and time? I just looked at a near bankrupt company that got a 7% convertible debenture (of course I know all too much about these instruments of destruction, but it reminded me about AXC's 12%). At the time I thought they might plan to repay this shortly. Instead they apparently agreed to convert some of this and do some refinancing of the rest. Does anyone have a good understanding of the financial wisdom, or lack thereof, for these events? I know the stated purpose was to have the potential to buy any good synergistic companies out there, but isn't 12% as steep as it gets today?

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