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Technology Stocks : CNET: The Computer Network (NASDAQ:CNET)
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To: Smart Investor who wrote (542)3/8/1999 5:54:00 PM
From: __HD  Read Replies (2) of 1133
 
Cnet is basically raising capital by issuing debt. It's possible they're doing this to buy out another company. At some point, depending on where the stock's price is, holders of that convertible debt will either be able to convert their notes into stock at $148 a share or can continue to hold the debt if the stock is down, depending on what the ratio is (notes-to-shares ratio). This should have no immediate effect on stock price -- unless they do indeed buy a company out, in which case CNET will probably go down (typically, it's the stock being bought out that goes up).

HD
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