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Microcap & Penny Stocks : ABTX - Agribiotech

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To: drakes353 who wrote (7983)	5/14/1999 2:01:00 PM
From: Anaxagoras	Read Replies (1) of 8359

Did you see the Bloomie piece today? I liked this part: <<CEO Budd repeated his intent to buy back $23.3 million of convertible debt from bondholders next month to avoid having to issue new stock, a move that would dilute the value of existing shares. The terms of the bonds require a 20 percent redemption premium, or $4.7 million. The bondholders include a unit of Lehman Brothers Holdings Inc. Budd didn't say where the cash will come from, or how much cash the company has on hand. Anthony Blum, the AgriBiotech vice president who oversees communications and planning, hung up the phone when a reporter asked how the redemption would be financed. >> Gee, classy, hunh? ;-) Anaxagoras

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