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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 165.13+1.1%Nov 26 3:59 PM EST
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To: JGoren who wrote (28604)4/28/1999 11:12:00 AM
From: bananawind  Read Replies (1) of 152472
 
All, *Q's surrender of LWIN warrants*

I found this in LWIN's recent 10Q and thought it added a little to the somewhat cryptic comment made in the QCOM CC.

In connection with the Distribution, the Company issued to QUALCOMM a warrant to purchase approximately 17.5% of the Company's common stock. In March 1999, for cash consideration of $3 million, QUALCOMM agreed to forego the right to acquire 1 million of the Company's common shares, such that QUALCOMM will not hold more than 15% of the Company's common stock in the event that the remainder of the warrant were fully exercised. The Company borrowed $3 million under the Credit Facility to make the payment.
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