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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: bazooka who wrote (32)	1/25/2005 2:43:14 PM
From: Glenn Petersen	Respond to of 3862

Gotcha, so it's 18 months and/or your money back (all for it?). Correct. About 85% of the gross proceeds from the offerings are escrowed for the benefit of the public shareholders. In the event of a liquidation, the escrowed proceeds are distributed to the public shareholders only. The original shareholders do not participate in this distribution. MSMA, which last traded at $5.20 per share, has escrowed proceeds equal to $5.10 per "public" share. Most, if not all, of the deals are structured so that you can get you escrowed proceeds back if you don't like the deal. These securities are going to require some patience. Be prepared for nothing to happen for a long time. Like watching paint dry. They are also illiquid and you have to be careful when you place an order. Specify a price, don't place an open market order. As for MSMA, I have positions in both the common stock and the warrants. Good luck. Glenn