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

To: Glenn Petersen who wrote (910)	12/2/1999 8:57:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 954

Reel.com, a wholly owned subsidiary of HLYW, has filed its S-1. While the deal has not yet been priced, REEL is looking to raise $60.0 MM. If we assume that $60.0 MM buys 20% of the company, HLYW's stake is being valued at $240.0 MM. Assume that the IPO pops 50%. That gives you $360.0 MM. Discount that amount by 40% and you are left with $216.0 MM. Divide that number by the 45.795 MM HLYW shares that are outstanding and you have $4.72 per share. If the IPO doubles, HLYW's discounted position would probably be valued at $6.29.