BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR Message Board

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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR

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To: Avenger who wrote (435)	3/18/1999 11:38:00 PM
From: Glenn Petersen	Read Replies (1) of 954

From the UBID prospectus: "The Parent has announced that, subject to certain conditions, the Parent intends to consummate the Offering, to separate the Company, which owns and operates the Parent's online auction business, from the Parent's other operations and businesses and to distribute to its stockholders all of the Common Stock owned by the Parent in no event prior to 180 days after consummation of the Offering." The 180 days expire in early June. The steep discount is frustrating and there is no guarantee that the distribution will happen on a timely basis. I also suspect that the uncertainty surrounding this transaction has had a dampening effect on the price of UBID.

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