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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: ChopChop99 who wrote (4986)	6/16/1999 1:40:00 PM
From: Elroy	Respond to of 16809

'dis don't make no sense..... Lets assume the brokers exercised their overallotment. CARI has 75 million shares outstanding. At $32.50, CARI the company is worth $2.44 billion. SNTC owns about 70% of CARI..."Upon completion of the offering and the concurrent private sale of approximately 569,000 shares of our common stock to Cerner, Synetic will own approximately 72.9% of our outstanding common stock" (That number assumes the underwriters will not exercise the overallotment option, odds are they will since the IPO is doing so well, so lets say 70% of CARI is owned by SNTC). 70% of CARI is $1.7 billion. SNTC's market cap at the moment = $1.74 billion. Well, SNTC had almost $300 million cash at the end of March Q. "The Company currently has approximately $295,000,000 in cash and marketable securities to be used for general corporate purposes, as well as the Company's previously announced acquisition program. " biz.yahoo.com Whatever. Elroy