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To: Silicon Mo who wrote (75)2/25/1999 2:34:00 AM
From: Glenn Petersen  Respond to of 345
 
The math on the $48,300,000 does work out. It assumes that the underwriters exercise their 15% over-allotment option and that the stock is initially priced at $14 per share.

3,000,000 shares times 1.15 = 3,450,000 shares times $14 per share = $48,300,000.