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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: GuitarMan who wrote (18339)	8/2/1999 7:11:00 PM
From: RockyBalboa	Respond to of 18691

Not only that, PCLN haas also done a convertible: cbs.marketwatch.com Also 3.5M are offered by shareholders, not the company. Common Stock and Convertible Debt Offerings On July 19, 1999, priceline.com separately announced that it intended to file a registration statement later that week covering the sale of $250.0 million of convertible subordinated notes and six million shares of priceline.com common stock. The common stock offering will be comprised of 2.0 million shares of comon stock to be issued by priceline.com and 4.0 million shares to be sold by certain selling stockholders. Priceline.com stated that it intends to use the proceeds of the offerings to invest in further growth of priceline.com's multiple product offerings. The information set forth in this paragraph is qualified in its entirety by reference to a press release issued by priceline.com on July 19, 1999, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference. On July 19, 1999, priceline.com also separately announced that priceline.com and its underwriters in the initial public offering have agreed to release up to 1.1 million option shares held by priceline.com employees from the current 180-day post-initial public offering limitation on exercise, which otherwise would expire on September 26, 1999. Priceline.com employees holding options that were vested as of June 1, 1999 will be permitted to sell a portion of their option shares during a period commencing on July 20, 1999 and ending on July 30, 1999. Any employee choosing to exercise and sell options earlier than the 180-day post-initial public offering release date will be required to agree to enter into a "lock-up" agreement in a form similar to that signed by selling stockholders in the secondary common stock offering, which will prohibit additional option exercises or stock sales prior to 180 days from the completion of the secondary common stock offering. THE OFFERING Common stock offered......................... 5,500,000 shares 2,000,000 shares by priceline.com 3,500,000 shares by the selling stockholders Common stock offered in United States offering................. 4,400,000 shares International offering................. 1,100,000 shares Common stock to be outstanding after the offering................................... 146,810,939 shares(a) Use of proceeds.............................. For working capital and general corporate purposes. See "Use of Proceeds." Nasdaq National Market symbol................ PCLN ------------------------ (a) Excludes 46,778,635 shares of common stock issuable upon the exercise of outstanding options and warrants and the shares of common stock issuable upon conversion of the % convertible subordinated notes due 2006, to be offered concurrent with this offering. See "Capitalization." CONCURRENT CONVERTIBLE NOTE OFFERING Concurrent with this offering, we are making a public offering of $250.0 million aggregate principal amount of our % convertible subordinated notes due 2006. The convertible subordinated notes will be convertible, at the option of the holder, at any time, into shares of our common stock at a conversion price of $ per share, subject to adjustment in accordance with their terms. The note offering will be made pursuant to a separate prospectus. Closing of the note offering is not a condition to the closing of this offering.

To: GuitarMan who wrote (18339)	8/2/1999 7:33:00 PM
From: TAPDOG	Respond to of 18691

Mark, VIGN shares were released early by the underwriter. I think that's why the stock collapsed when it did. AUSTIN, Texas, July 22 /PRNewswire/ -- Vignette Corporation (Nasdaq: VIGN - news), a leading provider of Internet Relationship Management (IRM) solutions, today announced that the underwriters for Vignette's initial public offering have agreed to release approximately 3,000,000 shares, or 5.5%, of the approximately 16.5 million shares held by the former preferred stockholders of Vignette, all of which are subject to lockup agreements due to expire August 17, 1999. The release applies on a pro rata basis to the holdings of each former preferred stockholder as of the initial public offering, and will be effective with the opening of trading on July 22, 1999. This partial release of the underwriters' lockup has no effect on various resale restrictions under applicable securities laws and regulations that apply to certain stockholders. Vignette's initial public offering of common stock was declared effective on February 18, 1999. Vignette sold 4.6 million shares to an underwriting group led by Morgan Stanley Dean Witter, with Hambrecht & Quist and Dain Rauscher Wessels as co-managers. Vignette is traded on the Nasdaq National Market under the symbol VIGN.

To: GuitarMan who wrote (18339)	8/2/1999 8:30:00 PM
From: Roger A. Babb	Read Replies (2) \| Respond to of 18691

Mark, unfortunately I can't find PCLN shares to short.