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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: George Dawson who wrote (18918)10/28/1998 11:43:00 PM
From: Greg Hull  Read Replies (1) | Respond to of 29386
 
George,

<<Combining this with the data of current shares (19.7M as opposed to 13.8M on 8/26) - the obvious conclusion is that the preferred folks are shorting and converting at a vigorous pace>>

Also, the market cap has doubled since 8/26 ($34.6M from $17.3M). I'm hoping for another INRANGE size announcement between now and the end of the year to convert another 580 preferred shares and push the convertible issue to the back burner. However, if there is a 15% conversion limitation, it will take a little longer than the end of the year, best case.

Greg



To: George Dawson who wrote (18918)10/29/1998 12:53:00 AM
From: George Dawson  Read Replies (2) | Respond to of 29386
 
I forgot to add that the rate of conversion of 3M shares/month is greater than the proposed rates of a previous model for the maximum conversion rate (post 18764).

Greg, is my arithmetic off or are they really turning over the stock more quickly than we think?

George D.


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