Veeco Instruments-Who? Message Board

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Technology Stocks : Veeco Instruments-Who?

VECO 29.29

+0.2%

2:47 PM EST

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To: orkrious who wrote (1791)	2/6/1999 9:04:00 PM
From: Justa Werkenstiff	Read Replies (1) of 3069

Jay: Re: "I've never heard of an offering being priced and not sold (or susequently re-priced). You're sure this is an option?" Yes, if they have got to get the deal done by a certain date in their minds and they don't have enough takers or the takers want concessions for, say, difficult market conditions the price can come down. I have seen it before. Big boys win; small guys get screwed. Carl makes a good point about high volume after the announcement. But this could be the actions of people seeing a ceiling and selling out or it could be MMers trading shares between themselves in a repositioning effort. But what really caught my eye was the timing of that pricing announcement -- 9:48 am (BW) and 9:09 am (PR) on a trading day. If Veeco placed secondary shares in the market, I think they would give you fair warning. The release does not read like the shares are being traded: "Of the 3.575 million shares to be sold, 1.0 million are to be sold by the company and 2.575 million by certain selling stockholders." Sounds like future tense to me. Anyway, it is worth a telephone call to confirm that the secondary is in the market.

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