WavePhore (WAVO)- VBI fed WaveTop for WebTV Message Board

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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV

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To: AJ Berger who wrote (2401)	12/9/1998 6:42:00 PM
From: Ken Turetzky	Read Replies (2) of 2843

WAVO has filed an S8 -- 4 million new shares at a maximum price of $8.344 as part of its "1998 Employee Incentive Plan." freeedgar.com The company filed a 424B3 on 11/12/98 regarding 2.4 million convertible preferred shares. That document says: "Includes such number of Common Shares estimated to be issuable upon conversion of the Series C Preferred Shares as of November 9, 1998, assuming a Floating Conversion Price of $4.10 per share is used to determine the Common Shares issuable on such conversion." We seem to be facing major dilution just when we don't need it. Anyone?

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