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.

Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Dr. John M. de Castro who wrote (362)	3/24/1999 9:34:00 AM
From: The Street	Respond to of 1438

Some interesting links: convertbond.com convertbond.com

To: Dr. John M. de Castro who wrote (362)	3/24/1999 9:46:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 1438

<<...I smell a floorless. >> Possible, but it doesn't look that from the initial terms, if I understand them correctly. Right now the preferred converts at a premium; they get common at $1.20 a share ($120 for a share of preferred divided by 100 shares of common)- I show a closing quote from yesterday at $0.72, so that's a huge premium of 71%. IOW, this aspect of the deal looks favorable to the company. But as you point out, who the heck knows what we'll see in the filing. Anaxagoras