Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (9533)	8/27/2001 8:19:26 PM
From: Jibacoa	Read Replies (1) \| Respond to of 13094

Sergio: As I understand it(could be wrong)<g>: 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. From the company report: "Rare Medium Group, Inc. and Motient Corporation, a nationwide provider of two-way, wireless mobile data services and mobile Internet services, announced the signing of a definitive merger agreement whereby Motient will acquire 100% of Rare Medium Group using a combination of newly issued Motient stock, shares of XM Satellite Radio stock owned by Motient and certain other considerations. Under the terms of the agreement, 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 consideration for Rare Medium's existing preferred stock will include nine million of Motient's XM Satellite Radio shares, plus approximately $13 million in cash. Rare Medium's previously announced $25 million loan to Motient will be absorbed by the combined company upon closing of the transaction, which is expected to occur in the third quarter of 2001." RAGL Bernard