Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Bill Wexler who wrote (4281)	1/29/1999 2:06:00 PM
From: CMason	Read Replies (1) of 4634

Bill -- Your favorite veggie burger company just filed an 8-K: freeedgar.com ITEM 5. OTHER EVENTS. Gardenburger, Inc. (the "Company"), stated during its analyst conference call discussing 1998 fourth quarter and fiscal year earnings held on January 27, 1999, that in support of its 1999 business plan, the Company has taken appropriate steps in recent months, with the help of an investment banker, to obtain financing through a private placement of convertible preferred stock in the range of $20 to $25 million. The offering is anticipated to be completed in due course during the 1999 first quarter. The securities to be offered will not be registered under the Securities Act of 1933 or state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Sounds like this could be a floorless. They had $15 million of short-term and $15 million of long-term debt shown on the balance sheet released this week, with about $2 million in cash and a book value of $10 million. I sure wouldn't be buying the convertible preferred unless it was a guaranteed no-lose deal. Did anyone hear the conference call and know anything more about the terms of the preferred? CMason

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