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 : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Gulliver who wrote (1596)	2/17/1998 12:56:00 PM
From: zTrader_77	Respond to of 164684

Here are the details on the two filings from last week: 144 4,038,468 66,304 4 - D,A,N,S 60.91 2/13/98 S 1,995,350 35,000 2 - D,V 1/28/98ÿ-ÿ1/27/98 57.01 2/13/98 Kirby

To: Gulliver who wrote (1596)	2/17/1998 1:40:00 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

Traveler, the debt is structured to encourage an early repayment, the source of which could only be a secondary. Six months from closing, the interest rate on the loan goes up by half a point. Also, all or some of the warrants (the amount declining over time) can be cancelled upon prepayment. If memory serves, all are cancelled if they repay within one year of closing. To prepay, they'd need to issue about 1.25mm shares at current prices, but it wouldn't surprise me to see some "selling shareholders" in there too. After all, the "primary" reason for the offering would be to retire debt which would generally be seen as a good thing. This allows them to play down the significance of any selling by Kleiner Perkins, Bezos, etc. (you know, the size of the offering would be too small without their shares; they are just meeting the demand from public investors for shares; blah blah blah). Call me a cynic, but...