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

To: REM55 who wrote (4117)	10/3/1998 1:30:00 AM
From: SlateColt	Respond to of 11417

My interpretation of the substantial increase in authorized shares is that a secondary offering is not far away. They aren't going to split the stock at such a ridiculous price and they can't be increasing employee stock options that amount. Remember, Wave has always said that when the orders or anticipation of orders for meters start to come in, additional funding will be necessary to support production. As to how many shares will be offered is anyone's guess. 10 million shares at $10/share would raise $100 million minus expenses to fund production. And they would still have ~38 million shares authorized for later funding needs or have room to split the stock if it takes off. The SEC filing signals that production orders and announcements may not be too far off in the future. If details are indeed being worked out for a secondary, we can also expect an upcoming road show where Wave mgmt will pitch their strategy/plan to institutions. Acceptance of the increase in authorize shares can't be finalized until voted upon, so we shouldn't expect more info on this front until at least the shareholders meeting or Comdex. That doesn't mean we won't hear production announcements before then, but I'm not giddy yet. ---SC