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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: John Nasser who wrote (13236)	6/28/1999 10:49:00 AM
From: gnuman	Read Replies (1) \| Respond to of 14577

Diamond issues warrants to S3. As reported in CBS marketwatch. Apparently S3 has loaned diamond some money. Some excerpts from the filing: As more fully described in Item 4 of this Statement, Diamond has issued to S3 three (3) warrants to purchase an aggregate of 4,597,871 shares of Diamond Common Stock (collectively, the "Diamond Warrants"). The first of those three warrants entitles S3 to purchase 1,165,501 shares of Diamond Common Stock at an exercise price of $4.29 per share. The second warrant entitles S3 to purchase 1,196,172 shares of Diamond Common Stock at an exercise price of $4.18 per share. The third warrant entitles S3 to purchase 2,236,198 shares of Diamond Common Stock at an exercise price of $4.471875 per share. If S3 were to exercise the Diamond Warrants in full, the funds required to purchase the shares of Diamond Common Stock issuable upon such exercise (assuming a cash exercise) would be approximately $20.0 million. It is currently anticipated that such funds would be provided from S3's working capital.......... And this is interesting: Notwithstanding any provisions therein to the contrary, each of the First Diamond Warrant, the Second Diamond Warrant and the Third Diamond Warrant shall terminate upon the consummation of certain transactions involving the acquisition of more than 50% of the outstanding voting securities of S3 or the disposition of all or substantially all of S3's assets. As the holder of the First Diamond Warrant, the Second Diamond Warrant and the Third Diamond Warrant, S3 has certain demand and piggyback registration rights with respect to the shares of Diamond Common Stock covered by such warrants......... marketwatch.newsalert.com Q=c%25SIII%20&Title=Headlines%20for%3A%20SIII%0A