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Technology Stocks : General Magic

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To: Mark Oliver who wrote (5726)	4/1/1999 12:55:00 PM
From: Gary Ku	Read Replies (1) of 10081

Mark;Thanks. There is something + re the new finance deal. << The initial conversion price of the Series D Preferred Stock will be calculated at a premium to the then current market price of General Magic common stock. The conversion price is subject to further adjustment based on future market prices of General Magic common stock>> Here is the major difference: the conversion price will be calculated "at a premium" instead of "at a discount". Hopefully, This "subject to further adjustment based on future market prices" does not have the same kind of "the lowest sales price of the common stock in the five trading days ....." build in. For people to invest $20 million, they must see something good more than we have been allowed, if not the gain from shorting.

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