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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Thure Meyer who wrote (8597)	5/20/1999 8:09:00 PM
From: killybegs	Respond to of 17679

I think they rightly haven't affirmed publicly a plan to IPO TvontheWeb...such an event is subject to market conditions. Overpromise and then don't deliver is a terrible position for company to put itself in.... However, I do think at the right time, they will take TvontheWeb to the public markets. Sometimes, it is smart, as it was for Ampex in Jan 98 to raise funds when they are available as opposed to when you need it. Also, a public valuation is almost always significantly higher than a private valuation. The "sum of the parts is greater than the whole" is always a relevant theme in the market,but has been particularly important recently....

To: Thure Meyer who wrote (8597)	5/20/1999 8:15:00 PM
From: Rob Palmer	Read Replies (3) \| Respond to of 17679

<<What advantage would it be (in a strategic sense) to do any IPO's unless there is a real fiscal reason?>> Thure, The market is phenomenal for internet related IPOs right now. There is no telling how long this will last. An IPO is the cheapest way to raise capital today. Bramson has stated that operating losses are likely over the next several quarters, so one would imagine that we are going to need additional capital soon to fund the future growth. In addition, one could make an argument that allowing the individual holdings to trade separately, while maintaining a significant percentage in AXC's own portfolio, MAY be the most efficient way to realize the greatest shareholder value. Afterall, shareholder value is supposed to be the main focus of a publicly traded company, right? Unfortunately, we don't have all the supporting facts, that management does, to determine the best way to achieve maximum shareholder value. Of course, TVW or any other holding would have to be developed to a certain level in order for an IPO to be truly successful. Any comments on whether that time is now? Good luck! Rob ps. I'm pretty sure someone already mentioned this, but it cracks me up that "internet" can't make it through the SI spell check!

To: Thure Meyer who wrote (8597)	5/20/1999 11:45:00 PM
From: Carl R.	Read Replies (1) \| Respond to of 17679

You asked why do an IPO if financing isn't an issue. First of all, financing is an issue. AXC has only enough money to proceed at this rate for 6 months to a year, so it is imperative that they know where to obtain additional funding. As Michael Olds has pointed out there are a variety of options including a strategic investment by a bigger company, a secondary issue of AXC stock, a placement of more junk bonds, or an IPO. There is no question in my mind that the financial whizes at Ampex have a plan, we just don't know what it is or when it will happen. As for other advantages of IPOs, there is every reason to believe that the market is ridiculously overvaluing many if not all of these internut IPOs. By doing an IPO, AXC can get some of the "bad" money in their pocket. Carl