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Technology Stocks : Safeguard Scientifics SFE
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To: andy harrison who wrote (2463)3/27/1999 12:37:00 AM
From: michael r potter  Read Replies (1) of 4467
 
The market conditions for companies they had been bringing public are almost as bad as they were when they stopped the rights offerings last year. DOCC, OAOT, and CVSN are still in essentially a bear market and we are only in a bull market when it comes to a narrow group of companies. Their guidelines for initiating offerings was to be when their previous offerings [and other small caps. like them] started being embraced by the market once again. There is no sign of that occurring. They now have to shift to either non-internet companies that are much more mature [and valuable] than DOCC, OAOT, or CVSN were when offered, or to those with a strong internet component in order to have a successful offering. I think they will resume offerings when they are convinced they will add value to shareholders and add to SFE's track record. They also want a visible pipeline ready to go so they won't be put in a position of having a hot one and then a long dry spell before any more offerings IE, the ability to do several a year and be reasonably assured of their success. The management is adjusting to the new realities of the marketplace and is probably eager to in some way start once again cutting shareholders in on deals [maybe not just rights offerings?] that will not be available to the general public-they just want to be thorough and prepared. It will happen. My guess is that ICG will be the kickoff event. [whether shareholders are cut in directly or not]. Mike
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