To: Anthony@Pacific who wrote (27657 ) 4/7/1999 7:24:00 PM From: Never Hibernate Read Replies (1) | Respond to of 122087
INDI There seems to be news out that INDI owns a 250000 share stake in Wit CApital which should be IPOing in the not too distant future. Looks like this may cause a run in the near future so I would be wary of shorting it if it starts to run soon because i think the pump may start soon.biz.yahoo.com ndividual Investor Announces Stake in Wit Capital NEW YORK, April 6 /PRNewswire/ -- Individual Investor Group, Inc. (Nasdaq: INDI - news) today announced that it owns 250,000 shares of Series A Stock of Wit Capital Group, an online investment banking and brokerage firm. These shares will convert into 250,000 shares of common stock in the event of an initial public offering of Wit Capital. On March 18, 1999, Wit Capital filed an S-1 registration statement for an IPO and announced that it expected to complete its IPO, for which Bear, Stearns & Co. Inc. is acting as lead underwriter, prior to June 30, 1999. On March 29, 1999, Wit Capital and the Goldman Sachs Group announced that Goldman Sachs had agreed to acquire an approximately 22% stake in Wit Capital. The shares, which were acquired in 1997, were recorded on the Company's December 31, 1998 balance sheet at the historical acquisition value of $250,000. The Company noted that there can be no assurance that it ultimately will realize any value with respect to its shares of Wit Capital. About Individual Investor Group, Inc. Headquartered at Wall Street, Individual Investor Group, Inc. is a financial media company that publishes and markets Individual Investor magazine (circulation 500,000), Individual Investor Online (http://www.iionline.com), Individual Investor's Special Situations Report, InsiderTrader.com and Ticker magazine (circulation 100,000). SOURCE: Individual Investor Group, Inc. NH