InfoSpace (INSP): Where GNET went! Message Board

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

INSP 84.14

-0.8%

2:26 PM EST

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To: robert duke who wrote (3020)	4/10/1999 2:41:00 PM
From: RTev	Read Replies (1) of 28311

That about 6 million plu shares on the market, is that right? Hmm... Let's see... I checked a couple of other news stories from last month and a 30-40% number is used in several for his ownership without getting a single share from the tender offer. According to the proxy, 26% of Allen's stake is in preferred stock. From the proxy: "Paul G. Allen agrees to purchase an aggregate of $300 million worth of a new series of convertible preferred stock of Go2Net, convertible into approximately 26% of Go2Net's common stock. " He also bought 1.4 million common shares from management and owned 20,000 shares before the deal was announced which is about 11% of the common stock. Proxy: "Certain members of the company's management and Board of Directors have entered into agreements under which Allen will buy an aggregate of 1.4 million shares of Go2Net's common stock at $90 per share and have agreed to vote all of their Go2Net stock in favor of the transaction. " So it looks like he'd have an effective ownership stake of about 37% when the tender period expires.

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