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Technology Stocks : CDRD (CD Radio) -- Ignore unavailable to you. Want to Upgrade?

To: BARRY ALLEN who wrote (529)	12/30/1997 10:44:00 PM
From: Dale Baker	Respond to of 904

It means that a big chunk of the convertible preferred stock is held by offshore investors registered in Bermuda and the Cayman Islands. Notice that if they convert, they would only hold 9.99% of CDRD, which keeps them below the threshold where they could not sell that stock, per the Standstill Agreement. Others here have researched the convertible terms in more detail than I have. To me, this means CDRD still has a large sword hanging over its head. Longs have to hope it doesn't drop in the near future.