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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Greg Hull who wrote (18945)10/30/1998 7:17:00 AM
From: Craig Stevenson  Read Replies (1) of 29386
 
Greg,

<<Tail Wind was only 23% of the Series C offering. The rest was from the Citadel Entities. In fact, one of the funds bought 41% of the offering. The Citadel Entities are obviously a much bigger player in this game. We need more data on the conversions to date for the Series C offering.>>

I think we should believe the Tail Wind guy, and concentrate on the other Reg D players. If Citadel was a 41% holder, they would have more firepower than Tail Wind anyway. I sure wish there were more details available concerning the conversion status. My own opinion is that this whole thing will be nearing the end game when the short interest starts to drop. (Unfortunately, I thought we would have seen that in the last report.)

Craig
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