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To: LLCF who wrote (87075)3/28/2001 4:39:24 PM
From: steve susko  Read Replies (1) | Respond to of 436258
 
they must be desperate to IPO this time, plus having to warn on IPO day.



To: LLCF who wrote (87075)3/28/2001 5:59:17 PM
From: Earlie  Read Replies (2) | Respond to of 436258
 
LLCF:

I have been checking around. I now expect some fireworks over that crazy mia culpa from the "farm boyz" (AGRA).

I've seen a bunch of truly dumb things in this market, but to put out that announcement a day after one's IPO has been force-fed to a bunch of choking, coughing clients, man, that takes the cake.

Recission is a definite possibility. If I remember correctly, it's a ninety day period during which a buyer can return the stock for full credit if ANYTHING in the prospectus appears inaccurate. The underwriter is going to need to hire a bunch of staff just to handle the nasty calls. (g) Got big, busy legal staff?
I looked over the prospectus and wouldn't have touched this with a barge pole. If you want to see convolution at its finest, read through the debt "snake pit" on this thing. And check out the way the underwriter has ensured that it doesn't step into any cow dung, even if the company falls into same.

An "autoshort" if I ever saw one.

Best, Earlie