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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (27148)	11/20/2001 4:21:43 PM
From: hotlinktuna	Respond to of 29382

Thanks Ken...added some CGEN and MSTR today and sold a couple of others...looking to add to my MAXF if it gets to 4.50 or so tomorrow...tuna

To: Ken W who wrote (27148)	11/20/2001 4:44:16 PM
From: arnold silver	Respond to of 29382

Ken , Thanks,I think I have a stock that you would love. Pinnacle Holdings Inc. Announces Sale of Colocation Properties in St. Louis for $22 Million; Receives Forbearance on Senior Credit Facility SARASOTA, Fla., Nov. 19 /PRNewswire/ -- Pinnacle Holdings Inc. (Nasdaq: BIGT) today announced that it closed on the sale of its two colocation properties located in the central business district of St. Louis, Missouri. Proceeds from this transaction, totaling $22 million, will primarily be used to repay bank debt, including payment of the Company's fourth quarter scheduled amortization payment, as well as to establish a $2.5 million cash collateral account to securitize outstanding letters of credit. (Photo: newscom.com ) The two St. Louis properties, the "Tucker Building" located at 210 N. Tucker and the "Valley Building" located at 900 Walnut, total over 500 thousand rentable square feet. The Company is in discussions with interested parties relative to the sale of its other colocation properties located in San Antonio, Harlingen, and Beaumont, Texas. The Company also announced that it has entered into a forbearance agreement with the lenders under its senior credit facility as a result of it's the Company's non-compliance with certain covenants under its senior credit facility as of the end of its third fiscal quarter. The forbearance agreement runs through December 12th of this year, during which period the lenders agree not to exercise remedies available to them as a result of the Company's non-compliance with such covenants. In addition, the forbearance agreement eliminates the Company's ability to make additional draws under the senior credit facility; increases the interest rate on outstanding borrowings under the facility by 1%; allows the Company to sell its St. Louis colocation facilities discussed above; restricts the amount of money that can be invested in capital expenditures by the Company; and limits the Company's ability to incur additional debt. The Company continues to work with its bank group to try and structure a more permanent amendment to the senior credit facility. About Pinnacle Holdings Inc. Pinnacle is a leading provider of communication site rental space in the United States. To date, Pinnacle has completed over 570 acquisitions and owns, manages, or has rights to, in excess of 5,000 sites. Pinnacle is headquartered in Sarasota, Florida. For more information on Pinnacle visit its Web site at pinnacletowers.com . Information provided on our web-site is not incorporated into Pinnacle's SEC filings or this press release.