NetBank(NTBK)-formerly Atlanta Internet Bank Message Board

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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank

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To: AugustWest who wrote (1782)	5/25/1999 8:23:00 PM
From: Rajiv	Read Replies (3) of 2414

AW, The secondary offering of common stock has not been completed. If the stock price does not recover soon they may be forced to postpone it. The bank said it also plans to issue $100 million of convertible subordinated notes that mature in 2004. Who gets those notes upon maturity? The investors (mostly institutional investors subscribe to stuff like this) can convert the notes to common stock on/before maturity. NTBK hasn't revealed the exact terms for these notes. Regards. Rajiv

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