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Non-Tech : Any info about Iomega (IOM)?
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To: BIGEJOE who wrote (1711)5/19/1996 7:10:00 PM
From: Guy Gordon   of 58324
 
The April 23, 1996 press releas from Iomega states "The [100% stock dividend] will be distributed on or about May 20, 1996 to stockholders of record on May 6, 1996.

I take this to mean that shares will trade Monday at 1/2 the Friday price. (And, Wow!, what a Friday price! Did you see that $2 jump in the last 15 min. of trading?)

PR on May 13: "Iomega announced today the filing of a registration statement with the SEC covering a proposed public offering of 5M split-adjusted shares of its Common Stock. The Company may also sell up to an additional .75M split-adjusted shares to cover over allotments... Hambrecht & Quist and JP Morgan & Co will serve as managing underwriters of the offering."

"As of April 30, 1996, on a post-split basis, 119,541,442 shares of IOMG were outstanding."

"The Company intends to use the net procees os the offering for general corporate purposes and working capital needs, including the repayment of a portion of amounts outstanding under the Company's bank loan agreements."

"A copy of the prospectus may be obtained ... H&Q 415-576-3300."

"a registration statement relating to these securities have been filed with the SEC but has not yet become effective. These securities may not be sold ... prior to the time the registration becomes effective."
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