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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Craig Stevenson who wrote (14517)	2/19/1998 2:04:00 PM
From: iceburg	Read Replies (1) \| Respond to of 29386

Craig, A fellow investor warned me about a rash of companies cannibalized by these floorless convertables lately. I was slightly worried so I called Ancor for clarification. I was told that the deal is complicated and not as floorless as it appears. I was told it is "miles and miles" better than the last Reg-D. I guess we will have to simply wait for the details. After listening to the replay of the CC I was extremely encouraged that things are going to work out this time around. Steve

To: Craig Stevenson who wrote (14517)	2/19/1998 2:15:00 PM
From: Eleder2020	Read Replies (1) \| Respond to of 29386

>>>It also appears as if we might see less dilution than 10%, which would also be good. It might not be perfect, but it's better than the last time. <<< Craig-thinkabout it. The financing stabilized the price of ANCOR today. Gives it working capital for the next year and cash in hand. A long term loan if they could have gotten it would have been more dilutive over time. I think we are at 8 thanks to Steve S. today. Without it we would be down alot more then 10% and the margin accounts would probably accentuate that movement. All in all it appears to be a pretty good deal BUT time will tell and certainly was shareholder friendly at least today. I was hoping for someone like SUN or one of the large possible OEM's to take an equity stake in ANCR but that didn't happen.It would seem some OEM could invest in ANCOR, order their switches, put Ancor on the map and then reap the rewards as other OEM's follow suite and the profits from their stake could get years of switches for free if it all worked out. Just waiting for the market to catch up to the technology . I guess I won't miss too much if I concentrate on the Knicks and basketball season for awhile.