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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Seconds Out who wrote (9089)	9/18/2000 5:46:52 PM
From: dgurgel	Read Replies (1) \| Respond to of 10081

The NASDAQ low pressure area I think is more responsible for today's decline than the financing. In calmer NASDAQ seas I was guessing that there would be no problem holding 6 1/2, and I expected the effect to be erased by the next news release. I called LTCO, 212-409-2000, to ask for the prospectus and otherwise inquire about the deal. I was told the prospectus was not ready and that printing the LTCO phone number in the press release was a mistake (?). I asked if anyone there could discuss the offering in any way and was told to call IR at General Magic. Can someone else try LTCO and see what can be learned? I hope to swing by the show at the NYC Javits Center for a few minutes tomorrow. If I get there I will post anything I learn. Questions for Seconds, Equity, anyone else: I see that the offering is simply common stock, there are no warrant or special (preferred) rights. (Minor number of warrants are there for LTCO only as part of their compensation.) How do these private placements usually work? What size discount can be obtained? What is the timing of the offer and acceptance? Can any restrictions be placed on the shares as far as when they can be resold? I can't think of any game that can be played with these other than a quick flip to capture the discount.