Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Robert who wrote (445)	2/25/1999 11:17:00 PM
From: mod	Respond to of 16809

I read the prospectus (well, skimmed it..) A debt-ridden stuffed bear company? Company selling 9 million, insiders selling millions more, total of 16 million shares offered. All proceeds go to repay debt, so the company is left with minimal cash (and still a bunch of debt). At about 30x 1998 earnings, seems pricey for a toy/collectibles company. Zindart (ZNDT) is an OEM in this business and trades at 5x earnings. If it was the Beanie Baby company it might work, but it looks like an attempt to get KKR out of a deal at a nice profit for them. I placed an order but am likely to cancel unless someone can explain to me what is good about this deal. I expect everyone will be able to get all the shares they want from Wit on this one.