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To: J Gunn who wrote (5146)12/10/1999 4:13:00 AM
From: Jim Baker  Respond to of 5529
 
I had 100 shares of CPTH as a "friends and family" when it went public in April. You had to open an account with the issuing broker, then pay him (by wire transfer; you knew the amount as soon as the shares were priced). As soon as you paid, the shares were in your account; then you could sell (via a telephone call) when trading opened.

Jim



To: J Gunn who wrote (5146)12/10/1999 4:24:00 AM
From: Jim Baker  Read Replies (1) | Respond to of 5529
 
J - Reviewing my answer, I said "issuing broker"; more accurately, I should have said "designated broker". In my case, Critical Path named the broker, and the contact person within the brokerage office, that was handling "friends and family" situations. My daughter had to tell that contact person how many of her "friends and family" allocation went to me; then I had to open the account, wire payment, etc.

Jim


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