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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (42950)	2/27/1999 6:58:00 PM
From: Glenn D. Rudolph	Read Replies (3) of 164684

I believe the way conversion works, is that any time the bond holder wants, he/she can buy a share of amzn from the company for $158. The company will have that cash in its coffers, and it can use it for anything including retiring debt, paying interest, or they can blow it on profitless acquisitions, if they wish. Sarmad, I do not need to look the bond deal up again. Your explanation is what I thought to be the case. Let's say AMZN's stock goes to $175, would not a lot of people buy shares from AMZN for $158/share. They would in turn sell the shares and drive the price down quickly.The conversion is 7 million shares. Please correct me if I am wrong. Glenn

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