InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 92.10

-0.6%

Dec 31 3:59 PM EST

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To: Chung Lee who wrote (1937)	3/15/1999 2:16:00 PM
From: Rick Thompson	Read Replies (3) of 28311

This is one heck of a good deal. Think about it… and think about who is getting the high price and who is “taking one for the team” on this: 1. Paul gets $300MM worth of shares (probably at $90… so 3.3MM shares) 2. Russ Horowitz and his staff (and maybe his board) have to pony up 1.4MM shares for only $90 a share. Russ is probably selling more than half of his personal position to make this deal happen! 3. The rest of us can tender shares at $90… but from what I read, we don't have to. The release does not say that the deal is contingent on Paul being able to buy another 2.2MM (or is it 3.6MM) shares. It just says he will buy that many if they are offered to him (by this Friday no less). So maybe some shares get tendered to him at $90... maybe they don't. After that, we have Paull Allen owning somewhere between a third and 54% of the company… and $300+MM in the bank… and still just 15.5MM shares outstanding… and tons of visibility / publicity / vision / and even hype. Point being, that we didn't get bought-out (like Lycos)… Paul Allen invested in the company and now we'll see what new highs we can hit with his considerable backing.

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