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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: Michail Shadkin who wrote (544)	5/14/2001 8:24:32 PM
From: wgh613	Read Replies (1) \| Respond to of 6873

RRRR,MTNT deal: Under the terms of the agreement, which is subject to approval of both companies' shareholders, as well as normal regulatory and bank approvals, each share of Rare Medium's outstanding common stock will be exchanged for one- tenth of a share of a new class of Motient preferred stock. Each whole share of the new preferred stock will have a liquidation preference of $20.00 and be convertible into 6.4 shares of Motient common stock. The preferred stock will have dividend and voting rights similar to the underlying common stock and will automatically convert into Motient common stock if such stock trades at $3.125 or above for a 10 day period.