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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (50821)	3/17/2000 2:35:00 PM
From: IceShark	Respond to of 53903

Wayne, It has been awhile since I looked at the FreeEdgar version, but I believe it is talked about in multiple sections of the 10k and always in the debt footnotes. If you go to the '97 10k it is described in even fuller detail. There are only two converts; this one for 500mm and the one related to TI chip biz acquisition for a face amount of 740mm. That TXN convert is an interesting one that I have to look at before I ever go short again. Which may be soon. My notes from one of the recent 10 q or ks say "The convertible notes were subject to redemption as of Oct. 2000 and are redeemable from that date through Oct. 2002 if the common stock price is at least $78 for a specified trading period." Then it is convertible at 60/share. I don't know what the heck that "were" language means but suspect something was modified (redemption date?) and we may be looking at the TI debt being kissed off during this run, too.

To: Freedom Fighter who wrote (50821)	3/17/2000 2:47:00 PM
From: FJB	Read Replies (2) \| Respond to of 53903

Wayne, What is your estimate for Micron earnings this quarter? Thanks. Just use your browser's "Find" function to find what you need - hit Ctrl+F, or look under Edit. From the 10K: sec.gov -------------------------------------------------------- The convertible subordinated notes due October 2005 (the "Convertible Notes") with an effective yield-to-maturity of 8.4% have a face value of $740 million, a stated interest rate of 6.5% and are convertible into shares of MTI's common stock at $60 per share. The Convertible Notes were subject to redemption as of October 2000 and are redeemable from that date through October 2002 if the common stock price is at least $78 for a specified trading period. The Convertible Notes have not been registered with the Securities and Exchange Commission, however, the holder has registration rights. (See "Acquisition" note) The 7% convertible subordinated notes due July 2004 are convertible into shares of MTI's common stock at $67.44 per share. The notes are redeemable through July 2001 if the common stock price is at least $87.67 for a specified trading period.

To: Freedom Fighter who wrote (50821)	3/17/2000 2:59:00 PM
From: Michael Bakunin	Read Replies (2) \| Respond to of 53903

Latest 10K is here: edgar.sec.gov Search for the word "convertible", and find two separate converts. "As of September 2, 1999, the Company also had outstanding $500 million of convertible subordinated notes that were issued in an SEC registered offering in June 1997 that are convertible into 7,413,997 shares of common stock. TI holds notes with a face value of $740 million which are convertible into 12,333,333 shares of common stock." The first is redeemable now (thus, the Scenario) is MU common is over $88: "The 7% convertible subordinated notes due July 2004 are convertible into shares of MTI's common stock at $67.44 per share. The notes are redeemable through July 2001 if the common stock price is at least $87.67 for a specified trading period." TI's are redeemable after October: "The convertible subordinated notes..are convertible into shares of MTI's common stock at $60 per share. The Convertible Notes were subject to redemption as of October 2000 and are redeemable from that date through October 2002 if the common stock price is at least $78 for a specified trading period." (Let's call that the Scenario -- II.) I'm a little surprised Zeev's calling for the scenario now; I would have expected it after October, when a ramp-up would have nixed all $1.2B in convertible debt. -mb EDIT: Not a breath of "were".