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Gold/Mining/Energy : Mirant Corporation (MIR) -- Ignore unavailable to you. Want to Upgrade?

To: Keith J who wrote (577)7/2/2002 7:27:20 PM
From: Raymond Duray  Respond to of 903
 
Hi Keith,

Re: ......the conversion price was adjusted (and potential dilution increased), but I'm not sure why. Anyone know?

The buyers demand a better deal when the price of the common falls. Why should they invest if the offering is already underwater?

Re: Also, why was Mirant even involved in this offering if they received none of the proceeds?

Sshhhhhh, you're not supposed to notice that. <g>

-Ray



To: Keith J who wrote (577)7/3/2002 5:27:58 AM
From: KyrosL  Read Replies (1) | Respond to of 903
 
The conversion rate in the supplement 424 is identical to the original 14.7167, according to the filling. However, they made a pretty gross error in calculating the number of common shares corresponding to the notes sold. The conversion rate they used is 67.95. Somebody ought to tell them.

Kyros


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