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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Sunshine who wrote (41169)	6/2/2003 2:45:47 PM
From: NDBFREE	Read Replies (1) \| Respond to of 42804

<I veiw converts as essentially the same as options, expect the owners get paid interest until the convers are traded in for stock. Is this correct> Not really. With converts the buyer of the converts gets interest on the money they loaned to MRVC and the option (strictly their choice) to take the return of their money at some future date or the right to a number of shares for each $1000 they loaned to the company. MRVC could call (pay off) the loan early at a premium ($1000+ in my example). Believe holder of converts still has the choice of taking $$ or shares

To: Mr. Sunshine who wrote (41169)	6/3/2003 9:50:01 AM
From: Duffeck	Read Replies (1) \| Respond to of 42804

<<The release said that $23M was being raised, but what if the price of each convert, and how many are being sold? Sorry if this was included and I missed it, I am not that familiar with convertibles.>> a. Purchase of Notes. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 5 and 6, the Company shall issue and sell to each Buyer and each Buyer severally agrees to purchase from the Company the Notes in the principal amount set forth opposite such Buyer's name on the Schedule of Buyers (the "CLOSING"). The purchase price (the "PURCHASE PRICE") of the Notes at the Closing shall be equal to $1.00 for each $1.00 of principal amount of the Notes purchased (representing an aggregate Purchase Price of $23,000,000 for the aggregate principal amount of $23,000,000 of Notes to be purchased at the Closing). secfilings.nasdaq.com duff