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

To: Zeev Hed who wrote (21361)	12/21/2001 12:33:32 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 60323

Zeev, other companies have also been raising cash at this time, presumably because most people now expect that interest rates will not stay this low, given the deficit spending in the budget, the trade gap, etc. Yet what is somewhat troubling about the SNDK private placement is the rather low conversion price of $18.43. Normally a convertible issue that comes out when the stock is well off its highs would have a much higher conversion price, say, about $22 or so. What the lower conversion price indicates is that the lenders think the stock is still on the high side, even at its present level around 13. Not a good sign for existing shareholders. Art