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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: F. Lynn who wrote (475)6/16/1999 7:54:00 AM
From: Rajiv  Read Replies (1) | Respond to of 1438
 
TMSR announced a 6 MM convertible yesterday. It raised 4 MM deal in Jan 99 which can also become a floorless if the stock goes below $16 after the registration becomes effective (TMSR will give adjustment shares guaranteeing a minimum return of 12.5%)

Link to the s-3/A (for the Jan financing)
edgar-online.com

Link to yesterday's press release -
biz.yahoo.com

Regards.
Rajiv



To: F. Lynn who wrote (475)6/16/1999 8:54:00 AM
From: Zeev Hed  Respond to of 1438
 
F. Lynn, review the saga of EXSO, there was a case where the floorless did just that, the same with Hayes. The case you cite might have been straight warrants at a fixed price, and if the shorting was above the strike margin would be required, but not more that what would cover the warrants conversions. Sometime warrants have expiration, and they may have been caught in such a problem, I do not know the details.

Zeev


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