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 : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (1822)	5/26/1999 3:50:00 PM
From: CMon	Read Replies (1) \| Respond to of 2693

You're kidding right? You just got back from the Peace Corps?

To: Bob Rudd who wrote (1822)	5/26/1999 4:34:00 PM
From: Rocket Scientist	Respond to of 2693

Well, I'm not betting one way or the other, but my guess is the debt will be converted to equity and the existing IRID s/h and other partners will be diluted. Bankruptcy wouldn't do the debt holders much good, because as the company has pointed out key elements of the system are controlled by current equity holders but are not security for the debt. It would surprise me if the publicly traded IRID was totally eliminated, but I could see it's ownership diluted from 12-13% to 4-5%.