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Technology Stocks : Silicon Graphics, Inc. (SGI) -- Ignore unavailable to you. Want to Upgrade?

To: Riskmgmt who wrote (4839)	5/11/1998 8:50:00 PM
From: Don Green	Respond to of 14451

Late Friday, NUMBER NINE VISUAL TECH CORP said it entered into a convertible loan arrangement with SILICON GRAPHICS INC, a move that provides financing Number Nine has been seeking since last year. Number Nine said it may borrow up to $9 million under the loan agreement. The loan is convertible into preferred stock at a conversion price of $2.75 per share and, if not converted, is payable on demand 180 days after September 30, 1998. Silicon Graphics was also issued a 3-year warrant to purchase up to three percent of Number Nine's outstanding common shares at the time of exercise, exercisable at $2.75, if Number Nine repays the loan's principal and interest.