Egghead Computer (EGGS) Message Board

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Technology Stocks : Egghead Computer (EGGS)

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To: Kip518 who wrote (7081)	3/11/1999 5:45:00 PM
From: Anaxagoras	Read Replies (1) of 8307

To all: In the amended S-3 filing today they had the following to say, FWIW: <<Egghead.com will receive an estimated $69.7 million in net proceeds from the sale of 5,000,000 shares of common stock offered by us ($80.2 million if the underwriters' over-allotment option is exercised in full) at an assumed public offering price of $14.88 per share, after deducting underwriting commissions and discounts and estimated expenses. We will not receive any proceeds from the sale of common stock by the selling shareholders.>> The price of the stock quoted in the filing was based on yesterday's close, $14.88. IOW, they are making it sound as though the shares are not being sold at a discount. This strikes me as unusual. I haven't followed the nitty-gritty of a SPO before- is this the way the S-3 usually reads and yet a discount is given anyway? I understand that in a SPO the buyers usually do get a discount, so I'm a bit puzzled here. Anyone? Anaxagoras

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