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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: cellhigh who wrote (48348)	2/21/1998 11:08:00 AM
From: Ibexx	Read Replies (2) \| Respond to of 186894

Ronald, Re: <Intel warrants> Don't you have a broker" Authorize him/her to exercise the warrant rights, which means you need to pay 20.875 per share to affect the conversion to Intel commons. The expiration date of INTCW is March 14, a Saturday, thus the last trading date is Friday, March 13. Of course, you could also sell the warrants before March 14 without conversion. If you do nothing, your INTCW shares will become worthless on the date of expiry. Ibexx

To: cellhigh who wrote (48348)	2/21/1998 5:33:00 PM
From: Barry A. Watzman	Respond to of 186894

First, yes, if you let the warrants expire, you will lose ALL OF YOUR MONEY, EVERY LAST PENNY. Now, however, don't panic, in fact, given a ten point rise in the stock in the last five days, the warrants were a wonderful investment to have owned this week, and could well be wonderful for another two weeks. Here's the situation and your options: The warrants stop trading on the NASDAQ on March 10th (Tuesday), and expire on Friday, March 13th. You have until Tuesday March 10th to simply sell the warrants just as you would any other stock. No problem, just call or get online with your broker and sell however many shares of INTCW you wish. IN MY OPINION, there will not be a significant decline in the price of the warrants relative to the stock, not even on the last day (March 10), but I could be wrong on this, and I would appreciate input from others with more experience in such matters. After March 10th but before March 13th, you can put up $21 per warrant and exchange the warrants plus the cash for an equal number of shares of stock. If your warrants are in a "street" name, contact your broker to find out how to do this and what the deadline is. If they are in your name, you need to get the warrants and the cash to Intel's transfer agent (don't know who it is) by March 13th. Either way, these activities could require time, although probably not more than a few days. My broker is Schwab, and they are very on top of this, they have a dedicated "reorganization" department, representative and phone number, and I've received multiple mailings from them about this subject. With Schwab I actually have until Friday 3/10 to NOTIFY them that I want to exercise the conversion option (with the required cash in the same account). But other brokers may take longer. So, there is no need to panic, you have all of the next two weeks, plus at least Monday and Tuesday of the following week, to act. With Intel currently on one of it's classic "To The Moon" surges, it may well be wise to sit it out for the better part of the next two weeks, while investigating the procedures with YOUR broker to make sure that you know what to do and that you will be able to do it. But you MUST act by March 10th, MARCH 13th or your broker's deadline, or YOU WILL LOSE EVERYTHING.