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.

Technology Stocks : VerticalNet, Inc. [VERT] -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (141)	3/12/1999 4:00:00 PM
From: mod	Read Replies (1) \| Respond to of 1094

Interesting VERT side play: Progress Financial Corp, a bank, got 47,837 warrants to buy VERT stock for very little (some less then $1, some $3) after they lent money to VERT. At current prices, this is a potential $5 million windfall for PFNC, which only has a market cap of $83 million. PFNC looks cheap by itself, and the VERT profits don't appear to be priced in to the stock. They also appear to be lending to other high tech companies in Penn., and getting equity kickers as they did in VERT.