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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: Kerry Lee who wrote (19851)12/21/1998 12:05:00 PM
From: Greg Hull  Read Replies (1) of 29386
 
Kerry,

Thanks for reporting the Series C information. It will be interesting to compare the short position tallied on 12/15/98 (and reported next week) with the remaining preferred stock as of 12/16/98. The 220 ($2.2M) preferred shares you reported will convert to no more than 900,000 common shares, unless the price crashes.

If the short position is greater than 900,000 shares, it is not all due to short sales in advance of conversion.

Greg
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