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Technology Stocks : XYBR - Xybernaut -- Ignore unavailable to you. Want to Upgrade?

To: LT who wrote (818)	5/21/1998 6:50:00 PM
From: rrufff	Read Replies (1) \| Respond to of 6847

I haven't read over all the techno legal cya, but the way it was explained was that the company could PUT shares to the lenders at an average price for a certain number of days in a row as chosen by the company within a certain period. Although the company would not receive any new cash, they would extinguish the debt. The ex-creditors would now be shareholders and, if they want to sell, they have to have the shares registered. If that is the case, this financing seems to be attractive to the company as the PUT could be when the shares are high. Therefore, the debt would be extinguished at a cost of fewer shares. I may not be right, but that was my impression. You speed readers out there check it out.