Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: 24601 who wrote (2390)	5/28/1998 8:12:00 AM
From: Raffica	Respond to of 11417

Another excellent business agreement by the Spragues. These guys are sharp. Looking for a burst of trading after 9. Still long on Wave.

To: 24601 who wrote (2390)	5/28/1998 8:15:00 AM
From: SlateColt	Respond to of 11417

All I could find on Intel is from an April 13th, 1998 news release: " Consequently, with SMSC's increased expenditures on new product R & D, our substantial intellectual property portfolio, including royalty-free non-exclusive patent cross-licensing agreements with many of the world's largest semiconductor companies, our strategic alliance with Intel Corporation announced last year, and our increased financial resources, I believe that Standard Microsystems is now in a position to focus on our mission of providing leading-edge semiconductor integrated circuits to our customers worldwide." Pretty encouraging...

To: 24601 who wrote (2390)	5/28/1998 8:21:00 AM
From: SlateColt	Read Replies (1) \| Respond to of 11417

Another excerpt from an SMSC May 12th news release: "...over the past several months, SMSC has received various orders from almost all the leading PC and PC motherboard manufacturers. SMSC's integrated circuits reside on the motherboards of PCs made by Acer, Compaq, Dell, Fujitsu, Gateway 2000, Hewlett-Packard, Intel, IBM, NEC and most other major PC manufacturers. That sums up the PC manufacturers whose products can be Wave-enabled. I guess I can live with that list...

To: 24601 who wrote (2390)	5/28/1998 10:05:00 AM
From: Klingerg	Read Replies (1) \| Respond to of 11417

RE: Intel Connection... From 2/28/97 10K for SMSC. Nice call 24601. I'm impressed! 10. SUBSEQUENT EVENT In March 1997, the Company and Intel Corporation (Intel) entered into a Common Stock and Warrant Purchase Agreement (the Agreement) whereby Intel acquired approximately 1,543,000 of newly-issued shares of the Company's common stock for $9.50 per share, or approximately $14,654,000, and received a three-year warrant to purchase an additional 1,543,000 shares at a price per share which increases from $10.45, to $11.40, and then to $12.35 on March 18, 1997, 1998 and 1999, respectively. In addition, the Company and Intel have signed a Letter of Intent to enter into, and are currently negotiating, an agreement whereby (i) Intel would agree to integrate the Company's current and future devices into a specified number of Intel's motherboard designs, and consider integrating such devices into additional motherboard designs, and (ii) the Company would grant Intel certain manufacturing rights should the Company be unable to perform its obligations as a supplier of such devices. The Agreement provides Intel with certain rights, including a right of first refusal upon certain proposed sales of common stock by the Company, demand and other registration rights with respect to the shares acquired under the Agreement, a right for Intel to designate a representative to serve on the Company's board of directors, and anti-dilution rights. The Agreement also imposes certain restrictions on Intel, including a limitation on Intel's ability to acquire additional shares of the Company's common stock (referred to as a standstill arrangement), and restrictions on the transfer of shares acquired pursuant to the Agreement. The standstill arrangement would terminate in the event of certain third-party tender offers for the Company's common stock.