Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (13306)	7/22/1999 10:46:00 PM
From: Mark Johnson	Respond to of 27311

It's so neat to see you and Larry best of pals.....Quit panting Larry and SIT!

To: Zeev Hed who wrote (13306)	7/23/1999 2:30:00 AM
From: Larry Brubaker	Read Replies (4) \| Respond to of 27311

Zeev, I notice that Castle Creek did a placement of $16 million of floorless convertible preferred shares with Secure Computing (SCUR) on June 30, 1998. The floorless conversion of the preferred shares was allowed beginning 6 months after the placement (sound familiar?) Price of SCUR at the time was about $10, so the $16 million placement would have translated into about 1.6 million shares if it had been done at a fixed price. sec.gov Next we have a chart for SCUR. Notice that within about two months after the window for floorless conversion opened, the price of SCUR fell from $29 to $2.25. quote.yahoo.com Then on May 5, 1999, SCUR registered over 8 million shares for sale related to the conversion of preferred shares and exercise of warrants that were also included with the deal. sec.gov Funny how these floorless deals have a way of working out like this.