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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?


To: Michael who wrote (16774)7/23/1998 11:37:00 AM
From: patchman  Read Replies (4) | Respond to of 18263
 
If you are long Zitel, you may want to check out the S-3 dated 15 July 98. It outlines the proposed sale of 3.2 million shares to offshore interests who will try to drive the price down as far as they can before converting their new shares. This is called a floorless discount convertible and is the worst case scenario for the average stockholder who doesnt understand what management is about to do to their investment.