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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!
QCOM 175.25+0.6%Dec 19 9:30 AM EST
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To: A.J. Mullen who wrote (1638)2/12/1997 1:30:00 AM
From: Andre Lukas   of 1819
 
A.J., you are right. Here is an example:

Assume that the price per share for that preferred stock is $ 45. You buy 1000 shares or $ 45,000. Assume that the conversion price is $ 75.
If all of your shares are converted, you will get 600 shares of common stock. Let us just say that the price of the common stock at that time is $ 90, the preferred shares holders will have $ 54,000 plus the dividend he has accumulated at 5 3/4%.

Hope that helps.

Regards

Andre
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