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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (39977)	2/12/2000 3:37:00 PM
From: Haim R. Branisteanu	Respond to of 99985

Jan, could you please provide the link were the 1.2 Bill was converted? Will save me exploring the SEC records Thanks Haim

To: Jan Crawley who wrote (39977)	2/12/2000 5:29:00 PM
From: Zeev Hed	Respond to of 99985

Jan, I have not seen that conversion. The conversion can be "Forced" if the stock is 50% above $78 for 20 trading days with a period of 30 days, but I do not think that happened. Was that a voluntary conversion? The last 10Q (relates to quarter ending Sep 99) still shows the debt. Zeev PS, by the way, the recent E 600 MM, is a partial floorless the conversion price is ressetable around Feb 2001 to the lower of the conversion price then in effect and the lower of an average of the last 20 day. It has a minimum price, but in the 8-k, the absolute floor (but in no event under....) was not cited, maybe it is being negotiated? The fact that that Mighty AMZN had to accept any kind of variable conversion pricing with a ceiling, even if there is a meaningful floor is quite negative for AMZN, IMHO. It leaves a lot of room for hedging activities assuring that over the next few years AMZN doe not get much above its recent high around $110.