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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: J R KARY who wrote (3879)	10/19/1998 2:50:00 PM
From: Jim Switz	Read Replies (1) \| Respond to of 5944

JR KARY: I think the insider sale offering may have been by the departed CEO and CFO (but haven't seen the listing to be sure) who have to exercise options within 90 days of departure, which occurred in July. The $430M converts are new to me; you may be thinking of the $230M placement in Spring of '97 - the postings you pointed to seem to be followup actions related to that offering. No more converts have been issued as far as I know. At the time, the company said the funds were to be used in conjunction with cash on hand for acquisitions and other capital investments. We've seen not much good come of such attempts in the last year. Am I missing something, anybody?