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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR
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To: peter michaelson who wrote (189)1/27/1999 4:08:00 PM
From: steve host  Read Replies (1) of 954
 
UIHIA owns 100% of UPC - it is UIHIA that is selling the stake in the company - about 37% = that money goes to the seller bringing the company public UIHIA.

As far as selling the remaining shares deflating the price - those shares if they were sold would be post IPO - therefore you would most likely be starting at a lot higher than the IPO price - in sum they would get a lot more than the $30 ,even with dilution ,if they were to sell the rest of the shares - which they could sell to MSFT or any company if not to the public. In any event the book value after the IPO would be calculated based on their interest in the company X whatever price UPC is selling at.

My figures based on 40 million shares outstanding - POST DEBT come to intake of $9.25 cash + UPC shares worth 57.75 at the IPO price = $67

As you say, the success of the IPO will definitly cause these numbers to jump up.
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