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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (42957)2/27/1999 7:16:00 PM
From: Sarmad Y. Hermiz  Read Replies (1) | Respond to of 164684
 
Glenn, you are right. Conversion would exert a down pressure keeping the stock from going much above 158, until they run out of converted shares.



To: Glenn D. Rudolph who wrote (42957)2/27/1999 11:05:00 PM
From: Bill Harmond  Respond to of 164684
 
Tey can convert at 156 if they want, but they don't have to until the company calls the bonds once the stock reaches some higher number (I dont recall exactly) Then they own the shares at 156 period.

Until then they can just hold the bonds which would eventually trade above par to reflect the stock price while still paying interest.



To: Glenn D. Rudolph who wrote (42957)2/27/1999 11:11:00 PM
From: Bill Harmond  Read Replies (2) | Respond to of 164684
 
>>They would in turn sell the shares and drive the price down quickly.

Glenn, most of these bonds were bought by institutions as a safer way into owning Amazon. I doubt many would sell. The company already figures the possible dilution into the income statement. That's what "fully diluted" means.

I think you can count on these bonds being converted.


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