Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Michael Davis who wrote (129)	10/10/1998 4:10:00 PM
From: Zeev Hed	of 1438

Michael, RNTK has a "leaky floorless preferred " Look at the latest s-3 filing of RNTK to see the details. In essence, they issued $2 MM in floorless convertible preferred to which are attached floorless warrants and the same amount of additional floorless preferred. It is up to company to "draw" on this, they have drawn on somewhat more than the first $2 MM I believe and I do not know how much was converted . Zeev

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