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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Jim DH who wrote (3290)	9/26/1998 1:48:00 PM
From: Ken Brown	Respond to of 18998

Thanks to all who answered, re: HBCO. I really did try to find the news myself, believe me. But, I checked during the morning (when it had merely tripled, and then backed off), which was apparently before the news was released on the major wires. (Obviously it was released somewhere prior to that time, but I don't know where.) I failed to look for it after the market close, obviously. They haven't filed an S-3 yet to register those convertible preferred shares for sale, so from a short term perspective, I don't think the converts are going to come into play. (There is that 2% a month penalty clause that's going to be costing them some big bucks.) It looks like they estimate their revenues will more than double from this deal. I don't think this warrants a 5x increase in market cap, but, OTOH, until this past June the stock price had mostly held above $5. I agree this might be a good short term short, if the bid can get about 5. Thanks, all, Ken