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Technology Stocks : Apple Inc.
AAPL 257.08-1.5%1:20 PM EST
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To: Eric Yang who wrote (24949)5/25/1999 1:22:00 PM
From: Essam Zaneldin  Read Replies (2) of 213182
 
Eric:

Thanks for the "convertable notes" article.

>>Apple granted these investors the right to covert the loan into Apple shares at an exchange rate of $29.205 per share. In other words, the $661 million worth of notes could be converted into 22.6 million shares of Apple stock.<<

Does this mean that those investors can sell their shares at current AAPL share price once the notes are converted?

Thanks..

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