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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (49685)	7/24/2001 12:33:24 PM
From: Ian@SI	Read Replies (2) \| Respond to of 70976

In a nutshell, it has offered hedge funds a low risk approach to shorting NVLS. For the first year, NVLS must keep the funds in treasuries. NVLS keeps the interest. Principal is risk free for the first year for the bondholder. The convertible feature allows the hedge fund to cover a short should the stock take off. But the funds expect to make money from shorting NVLS. A somewhat different slant than the NVLS thread posters trying to figure out which company would be bought and at what price. FWIW, Ian