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Technology Stocks : Orbital science (ORB) -- Ignore unavailable to you. Want to Upgrade?

To: contax who wrote (1368)	3/29/1998 6:37:00 PM
From: Gerald Walls	Read Replies (1) \| Respond to of 2394

Irrespective of who buys from the secondary, the trades always show up as part of the daily market transaction. They aren't market transactions. They aren't trades. If the subscribers sell the shares then they'll show up. The Secondary offering price is always very close to the prevailing market price on the day of the Secondary's execution. The company does not wish to antagonize existing shareholders! There will be some discount. If not then why not just buy the shares on the open market and not fool around with the extra crap required to subscribe to the SPO. I once owned shares of ATC Environmental and, yes, by the day of the SPO the stock price had dropped down to the $12 offering price from the previous $14 price the day they announced the offering. (These figures are from memory and are not exact.)