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Technology Stocks : Lightpath Technologies: LPTH New WDM player -- Ignore unavailable to you. Want to Upgrade?

To: GBT who wrote (467)	9/22/1999 7:49:00 PM
From: GBT	Respond to of 1219

From the Lightpath homepage: LightPath offers our securities for sale in four ways, each under a different symbol. LPTHA is the symbol for our Class A Common Stock. This is the same as common stock from any other company. You buy one share, you get one share. It becomes immediately tradable the moment you purchase it. LPTHU is a unit (or bundle of three certificates) consisting initially of three components; one Class A Common Stock, one Class A Warrant, and one Class B Warrant. (Warrants, to put it simply, are an option which when exercised enables you to purchase, one for one, Class A Common Stock at a set price.) The Class A Warrant exercise price is $6.50, but the Class A Warrant carries a bonus along with it. When you exercise the warrant you pay $6.50, and get one share of Class A Common Stock, but you also receive a, Class B Warrant. You now have two Class B Warrants, one in the unit, one new one from the exercise. The exercise price of Class B Warrants is $8.75; when you exercise them you receive one share of Class A Common Stock for each Class B Warrant. The warrants, both A and B, can be purchased, sold or traded on their own. The symbol for the Class A Warrant is LPTHW, and the Class B Warrant symbol is LPTHZ. There is no certificate actually called a Unit, it is simply the bundled package.