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Non-Tech : Excelsior-Henderson Motorcycle Manufacturing Co. (BIGX) -- Ignore unavailable to you. Want to Upgrade?

To: Scotsman who wrote (92)	10/6/1998 11:30:00 PM
From: spiny norman	Respond to of 118

Scotsman, they just did a convertible preferred offering. that will IMHO put a damper on any upside for a while. (The IPO market is dead, and by implication secondaries too, so I guess the convert route is what is available) I am still short, so I guess that I see a similar buying opportunity arising. At least 1.3 million, possibly as mush as 2.4 million more shares, plus a 750 K warrant for 10 million $. One outfit bought it all. What was really interesting was that the EDGAR filing (sept 8?) spelled out restrictions on the convert holders shorting and creating lower lows. The implication is that the shorting to hedge against an interest free convert is going to happen, otherwise why try to contractually limit it. regards