SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: George Dawson who wrote (18456)10/10/1998 1:19:00 AM
From: Ken Richard  Read Replies (1) of 29386
 
<<<< The preferred holders owned 3.5M shares that could have been shorted initially with 21M shares being offered as conversion shares. >>>

It was my understanding that one of the limitation was that they could not own more than 5% of the outstanding stock. 3.5M is well more than 5 %.

Also, "21M" shares being offered ? Prior to this non-sense there was a total of about 12M shares outstanding. Kerry suggests that after conversion, there will be a total of 21M to 25M shares outstanding, depending on conversion price. How do these numbers reconcile, particularly with the apparant 5% limitation ?

It seems very odd that a singular (even sleezy) financing deal could, according to what you are suggesting, allow the outstanding shares to potentially increase from 12M to 25M. If they never sold, does this suggest that they would own 1/2 of the outstanding shares. Again, how does this reconcile with the 5% limitations ....!!??
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News