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Technology Stocks : Ampex Corporation (AEXCA)
AMPX 10.80+6.8%Nov 24 3:59 PM EST
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To: killybegs who wrote (8892)5/29/1999 3:52:00 PM
From: Carl R.  Read Replies (1) of 17679
 
In the event that they IPO TVoW, I thought at first that your idea didn't apply due to the fact that AXC is not the sole owner. The more I think about it, the more I think it could apply. In the IPO, TVoW would raise money by issuing new shares. AXC would normally hold on to its shares so that the IPO could be as small as possible, assuring that the "IPO haircut" was as small as possible, and then at a later date AXC could sell some shares in a secondary to raise cash without that haircut.

Alternatively they could issue some rights to existing AXC shareholders, who could buy some number of TVoW shares from AXC. This would raise some cash for AXC, and have the advantage that the "haircut" would not be lost to "flip artists", but accrue to its own shareholders.

Carl
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