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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: THOMAS GOODRICH who wrote (23564)	8/3/1999 2:32:00 PM
From: Nine_USA	Read Replies (2) \| Respond to of 29386

The 2dry underwriters have a deal which is similar in some ways to that of the last preferred. The underwriters will control 10% of the total common, whereas the pref'd controlled about 12% when it was first issued. The pref'd deal was guaranteed by virtue of the discount on the stock price. While not guaranteed, between the underwiters and the market makers, the price can be brought down from 33-34 to mid twenties. This makes for nice profits to the MMs, the underwriters, and their institutional (stock buying) clients.