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

To: Harold who wrote (27419)	12/6/2001 1:16:11 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 29382

Harold, you should feel fortunate with only 11 stitches, could have been much worse..I see XMSR dumped 10mm new shares on the market,,had a feeling this would happen after the recent brokerage coverage..;^) So far it's not getting punished to badly..I note they mentioned this new financing would take them into the 4th Q of 2002..$147mm, pretty capital intensive business at this point..Stopped at the nearby Radio Shack yesterday, they had a Pioneer XM unit, but had yet to sell one.Also stopped at a car audio place, he had yet to install one. "XM Radio Announces New $112.5 Million Financing Deal and Closes $66.0 Million Financing Package with Boeing WASHINGTON, Dec. 6 /PRNewswire/ -- XM Satellite Radio (Nasdaq: XMSR - news) today announced that it placed 10 million shares of its common stock in a public offering underwritten by Morgan Stanley resulting in gross proceeds of $112.5 million to the company. In addition, XM has granted the underwriter an over-allotment option to purchase an additional 1.5 million shares of common stock. The offering is expected to close early next week. (Photo: newscom.com ) Separately, XM today also announced that it has closed a $66 million funding package with Boeing announced in October. The financing package included $35 million in new debt financing with Boeing Capital Services Corporation and $31 million in restructured obligations with Boeing Satellite Systems International, Inc. XM President and CEO Hugh Panero said, ``With these financings, representing $147.5 million in new funding, XM is well positioned to operate its business into the fourth quarter of 2002. We are very pleased to satisfy our near-term funding needs and take another major step in our overall funding program. XM has been available nationwide since November 12th and we are on our way to making XM truly the next generation of radio.'' "