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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Hull who wrote (17970)	9/8/1998 1:30:00 PM
From: Kelly Igou	Read Replies (1) \| Respond to of 29386

Greg - Let me see if I've got this straight - so what we're saying is that a lot of the preferred stock cannot be converted and held as common stock at such low prices because it would cause the convertor to own more than 5%??? If this is true, this forms a sort of "false floor" under this floorless convertible, in that the preferred holders essentially have to convert at a higher price in order to stay under 5%? Or does it imply they would convert and get 4.99%, then immediately sell the shares before converting another 4.99%, etc.?