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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Eric Yang who wrote (24949)5/25/1999 11:32:00 AM
From: Mike Connolly  Read Replies (1) | Respond to of 213182
 
Eric, the Apple press release indicated notes can be converted up until 6/1 -- implying that noteholders may already be converting shares as we speak? I wonder if this may be contributing to selling pressure we are currently seeing -- noteholders converting and immediately selling shares (at least those noteholders who hadn't already shorted). What do you think? Shorted shares of 18M indicates at the very least 4.6M shares (of the 22.6M to be converted) haven't been shorted -- probably higher, since not all of the existing shorts are likely to be noteholders.



To: Eric Yang who wrote (24949)5/25/1999 1:22:00 PM
From: Essam Zaneldin  Read Replies (2) | Respond to of 213182
 
Eric:

Thanks for the "convertable notes" article.

>>Apple granted these investors the right to covert the loan into Apple shares at an exchange rate of $29.205 per share. In other words, the $661 million worth of notes could be converted into 22.6 million shares of Apple stock.<<

Does this mean that those investors can sell their shares at current AAPL share price once the notes are converted?

Thanks..



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