Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: michael who wrote (1483)	11/11/1997 4:50:00 PM
From: Chris	Read Replies (1) \| Respond to of 5650

How do you like this: "The securities are convertible into PSINet common stock at $10 per share during the first year, PSINet said. The price may be decreased at the end of each subsequent year if the stock price is below the existing conversion price, it said...."

To: michael who wrote (1483)	11/11/1997 4:55:00 PM
From: Sandie	Respond to of 5650

Michael: It's a "one-two blow" day for PSI shareholders. Blow Number One: With today's acquisition, PSINet is now a bigger company losing even bigger bucks. Wow, what a master stroke. How much marginal business can one CEO gather under one roof? Blow Number Two: In order to finance these acquisitions, someone's given him $30 million with some kind of preferred convertible gizmo which will further dilute current shareholder value. Of course Schraeder is in a big huff because the market refuses to acknowledge the value that he so obviously sees. Meanwhile he couldn't hit the broadside of a barn with his earnings projections. This guy's sooo smart that we're all gonna go broke over it.