Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Zeev Hed who wrote (256)	2/17/1999 7:15:00 PM
From: Mike Maxton	Read Replies (1) of 1438

Zeev, Thrustmaster (TMSR)released an 8k yesterday (2/16), describing new financing. They have sold $4 million worth of shares, with options for $12 million more. There is a trigger mechanism that will result in the financiers receiving more stock at 25 day intervals, twice. There is an "agreement" that the financiers will not short the stock until after the 2nd reset mechanism. I don't hink it's floorless, per se, but haven't had time to digest the whole package as of yet. Thought you might be interested. mike maxton

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