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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?


To: watcher who wrote (3913)10/19/1998 11:28:00 PM
From: Kurt Goebel  Read Replies (2) | Respond to of 10081
 


watcher, they are not really floorless. There is a
maximum conversion percentage and General Magic can
buy them back below 5.

In addition, they are not convertible all at once but in
stages starting at 25% 5 months after they were issued
which would make the first 25% convertible around
11/25. The convertible percentage increases 25%
per 30 days after that until 100%.