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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Olds who wrote (9311)	6/18/1999 12:49:00 AM
From: Hal Campbell	Read Replies (1) \| Respond to of 17679

<< The last of that confounded issue is to be redeemed on June 30? >> Afraid not, Mike....LOL....I wish it were true too ,,,these damned different classes of debt cause me more need for bufferin than the web's buffering. Quarterly installments through March 2008. Total redemption amount over that time, 43.7 million dollars. ( which makes me think value should only be 1.37 million or so per quarter, but my arithmetic may be off). If it makes you feel any better the debt load gets smaller each time. And it actually would be in the long term interests of holders not to cannibalize the stock by holding the price down each quarter. They will make a whole lot more money in the long run if their initial shares soar in value. But the potential is there to a limited degree. A little at a time can only do so much damage though. When ALL your debt is structured that way it is a deperate measure. When just a portion is ...and the siphoning out to the float is over a long period - well, not ideal but not desperate. In return for that danger Bramson got flexibility - including cash redemption options ( which is the closest AXC can legally get to a share buyback). The easy solution - a soaring stock price on high volume would render all those classes of convertibles a blip on the newly lighting radar screens. But some risks...no question. Actually...in a purely strategic sense ( my harebrained opinion) ...the more shares they get and hold out of this first conversion, the less likely they are to want to submarine their value later. Bramson has always taken good care of debt holders, and seems to choose them wisely.