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

To: Seconds Out who wrote (9217)	11/29/2000 9:42:42 AM
From: Souze	Respond to of 10081

a further quote from that 424B4 SEC filing: PLAN OF DISTRIBUTION ISSUANCES OF SHARES OF COMMON STOCK BY US We engaged the investment banking firm of Ladenburg Thalmann & Co. Inc. on September 7, 2000 to act as our exclusive placement agent for the offering of up to $45,000,000 worth of our common stock, par value $0.001 per share, on a "reasonable best efforts" basis. Ladenburg Thalmann has agreed with us that it will seek to identify institutional investors who may wish to purchase our common stock from time to time on specific terms to be negotiated between us and each such institutional investor. The securities will be offered by us pursuant to this prospectus, as supplemented. Ladenburg Thalmann is not committed to purchase any of our securities, regardless of whether Ladenburg Thalmann does or does not successfully identify others to purchase our securities. We, in turn, are not obligated to sell any of our securities to any prospective purchaser successfully identified by Ladenburg Thalmann. Pursuant to this arrangement, Ladenburg Thalmann has identified one institutional investor that will be included in this offering. We have agreed to pay Ladenburg Thalmann a cash placement fee equal to 3% of the gross proceeds to General Magic from each such sale. We have also agreed to pay Ladenburg Thalmann a special concession for equal to an additional 3% of the gross proceeds to General Magic from the first such sale (or, put another way, 6% of the gross proceeds to General Magic from any sales made pursuant to this prospectus supplement) and to issue Ladenburg Thalmann a warrant to purchase 100,000 shares of our common stock at a strike price of $8.6767 per share. We also paid to Ladenburg Thalmann a $35,000 non-accountable expense allowance, and we agreed to indemnify Ladenburg Thalmann against certain underwriter's liabilities under the Securities Act of 1933, as amended.