The New QLogic (ANCR) Message Board

STOCKTALK

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 16.07

0.0%

Aug 24 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jim g. who wrote (20029)	1/8/1999 2:49:00 PM
From: Kerry Lee	Read Replies (3) of 29386

<< roger, with about a million shares to be converted and about a million shares short, these two might balance each other off and who knows some of these hedge funds might stay long and become real investors>> Your information is INCORRECT. There was $920,000 of Reg D left to convert as of yesterday. Remember the conversion formula is the average of 3 lowest closing bids in the latest 20 days ( moving target ). If you look back to last 20 days, my ballpark estimate is that they are currently converting at average price of $3.50 and in a few more days, that conversion price moves UP to $3.75-3.80. Therefore, we are probably looking at 260,000 shares to convert to burn up the remaining $920,000, IF they sell it all in the next few days. Do you see the light at the end of the tunnel? The $920,000 is split between 2 of the hedge funds. It is entirely possible that the remaining conversion does not necessarily lead to selling because some of the conversion may actually end up being short covering.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next