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Technology Stocks : Orckit (ORCT) -- Ignore unavailable to you. Want to Upgrade?

To: John F. Dowd who wrote (1525)	10/17/1998 7:13:00 PM
From: John F. Dowd	Respond to of 1998

Dear Peter and Daniel: To: +SteveG (1287 ) From: +SteveG Tuesday, Jun 16 1998 9:03AM ET Reply # of 1525 2.6MM priced at $18, and initially looking up in a good market <eom> From this post as dated they issued 2.6MM 4 mos. ago. This could be the source of the additional shares. Half were being sold by the insiders and 1/2 were new shares. This means that the effective price received by the company was 9 which was and is dilutive at todays price of 12 but that is all history at the present. As I remember it did not fly out the window. I suspect therefore that the secondary wasn't completed probably until after the end of the qrtr and the additional 1.8 mill. showed up in this qrtr. JFD