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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: thecalculator who wrote (20784)	8/31/2001 8:16:38 AM
From: JH	Read Replies (1) \| Respond to of 60323

<Sandisk signed an "Additional Purchase Obligation Agreement" dated July 4, 2000, under which Sandisk may purchase 2,700,000 additional shares of Tower Semiconductor (TSEM) under a warrant upon the exercise of a warrant, at an exercise price of $30 per share, bringing Sandisk's ownership of Tower Semiconductor (TSEM) up to 21.97%. > TSEM closed at $9.84 yesterday. SNDK's option's strike price is waaay out of the money.

To: thecalculator who wrote (20784)	9/3/2001 10:18:03 PM
From: Ausdauer	Read Replies (1) \| Respond to of 60323

Calculator, I remember all of the complaining about SanDisk's option to purchase Tower Semiconductor stock... ...at the price you mentioned in your post (about $30/share). Many who phoned into the Tower Semiconductor conference call seemed to think this was too generous a deal and that SanDisk was making out like a bandit. Well, I hope that SanDisk is not obligated to purchase those shares. You post refers to the deal as a "Purchase Obligation Agreement". You also stated that SanDisk "may" exercise the warrant, suggesting they have an option to refrain from exercising. That would be a no-brainer. Aus