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Technology Stocks : Concurrent Computer (CCUR) -- Ignore unavailable to you. Want to Upgrade?

To: port_mgr who wrote (5168)	9/29/1998 10:37:00 AM
From: Goodboy	Respond to of 21143

Diva just filed an S-4. They are doing a note exchange offer which will allow the notes to be registered and trade. Currently they are only restricted to qualified investors. Looks like Merrill and Morgan Stanley want to start dumping some paper on retail investors as the vod hype kicks in. Diva is allowed to have subs that can issue their own debt secured by the assets of the company! This is some risky paper. The upside is that the buyers recieved warrants for common stock when they bought the bonds (just like the good old Drexel days, a company and market, the junk bond market, that the FED decided not to bail out as they did LTCM). Document is huge. They do mentiion all the players and the risks of competition. They also have $197 million in cash and short term securities. They can raise more debt through subs. Very interesting.