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Technology Stocks : CAWS - Wireless Cable (New and Improved) -- Ignore unavailable to you. Want to Upgrade?

To: Rusti H who wrote (4741)	2/19/1998 9:54:00 AM
From: Ken Turetzky	Respond to of 5812

How much has the "unnamed investor" put into CAWS now? Did the investor really fork over $40M to buy out the BANX debt? I count $25M plus $2M plus $11M (see below) plus the BANX debt. ====================================================================== "The Daily Telecom Market Wrap-Up" ---------------------------------------------------------------------- Published By The Federal Filings Telecommunications Group February 19, 1998 ====================================================================== YTD % EPS EPS Close Change Change 97E 98E CAI WIRELESS (CAWS) $0.60 +$0.16 -46.7% $(3.10) NA BELL ATLANTIC (BEL) 90 1/16 +3/8 -1.0% $4.94 $5.46 CAI Wireless Systems Inc. and Bell Atlantic Corp. effectively ended a partnership begun in 1995. CAI bought out the remaining interests of Bell Atlantic's affiliates, under which Bell Atlantic retained the right to exercise options to utilize CAI's wireless cable spectrum in certain major markets exclusively for Bell Atlantic video programming. CAI also acquired Bell Atlantic's 9.9% stake in CS Wireless Systems Inc., CAI's joint venture with Heartland Wireless Communications Inc. (HART). As a result of the transactions, Bell Atlantic received $7 million in senior secured notes and its affiliates cease to hold any interests in CAI. CAI also increased its short-term secured debt facility by $18 million to $45 million, and an additional note of $11 million was sold to an unnamed investor, who also purchased all of Bell Atlantic's remaining debt and equity interests in CAI. Proceeds of the new note will be used for working capital and to meet other obligations into the first quarter. CAI also has entered an agreement with the investor in which CAI would exchange all of the Bell Atlantic securities for a new $30 million 12% subordinated note due 2003.

To: Rusti H who wrote (4741)	2/19/1998 9:54:00 AM
From: Wiski1313	Respond to of 5812

Good start this morning 9:50 am 220,000 shares traded and the ask is .74

To: Rusti H who wrote (4741)	2/23/1998 10:15:00 AM
From: Grainne	Respond to of 5812

Yes, Hooray for our team, Rusti!!!! It is wonderful that a rabbit seems to have been pulled out of a hat at the last moment!!! Obviously, I didn't stop with virtual champagne, nor did I have a designated data entry person!! It has been a non-stop party here since the announcement, and I am just getting caught up on my serious messages. Since I am the person who picks the stocks around here, I am particularly happy. Domestic harmony and all that. I only hope it is more than a temporary reprieve!!