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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (907)	11/26/1999 1:13:00 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 954

Thank you for your kind comments. Given that everyone now seems intent on distributing the post-IPO shares of their sub, you may be interested in an analysis of MALL's spin off of UBID. Message 12106142 I hope that you also had a good Thanksgiving. I wish that this thread was more active.

To: jjs_ynot who wrote (907)	12/2/1999 9:24:00 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 954

The XPDR IPO is now scheduled for the week of December 13, 1999. Here is an updated back door analysis for MMWW: Assuming that the overallotment option is exercised, MMWW will own 40,005,048 shares of XPDR subsequent to the IPO. There are currently 34,254,000 MM shares of MMWW outstanding, which means that each MMWW share is backed by 1.17 share of XPDR. If XPDR pops to $40, each MMWW will be backed by XPDR stock with a gross value of $46.80. Discount that by 50% and you have a value of $23.80. Add another $13 for the remaining business of MMWW and you have a value of $36.80. If XPDR pops to $50, the MMWW valuation is $42.25. If XPDR pops to $60, the MMWW valuation is $48.10. JMHO.