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Politics : Ask Michael Burke

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To: J. P. who wrote (44741)	1/27/1999 8:59:00 PM
From: Cynic 2005	Read Replies (1) of 132070

JP, I took it out of the latest SEC filing (F-8, I think.) It is the SEC filing for proposed offering of 2,750,000 shares at a maximum price (perhaps not including commission) of 69 1/16 from which the company would raise total proceeds of $189,923,250. The par value of these shares is $0.10 (I think it should be cents, not $) meaning, it is their face value! That is how I understand it. Possible implications are that the underwriters will try to keep the stock above that price until the offering. For the company, it is good as they sell some useless stuff called shares and get real money. For shareholders it is good one way as the loss per share looks much better. If the company is making money it is bad, which is not a major concern for MU longs! -g-

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