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SONICblue, Inc. (SBLUQ) Message Board

  • shredhq shredhq Apr 28, 2000 1:28 AM Flag

    MH Meyerson???

    MHMY

    Never heard of them.
    Until today
    at 345pm. Then they were stedily on the bid and a
    tick over the ask.

    Looks like S3 wants the
    market to know that a buyback is underway. S3 gave the
    analysts/ MMs / shorts something to sleep
    on.

    Thought that the conference call was interesting. ALL of
    the top tier analysts were there. They can sense the
    upside at S3 but are afraid to be burnt by the graphics
    business again.

    Highlights:
    -shares outstanding
    92m 98m diluted.
    -non-gfx rev fy99 200m expect
    300-350m fy00.
    -rev was 65/35 gfx/non-gfx this
    qtr.
    -huge penalties if Via deal falls through or gets
    delayed. deadline 6/29.
    -expect a convertible debt
    offering @ mid-year based on the UMC shares. S3 gets $$$$
    for investment from this. Delays tax liabilty from
    direct sale. Allows S3 to keep strategic stake in UMC
    (e.g.- access to capacity).
    -Flash memory remains on
    allocation.
    -Rioport mgmt in place. Now it is in a position to begin
    discussions w/ bankers regarding approaching equity
    mkts.
    -S3's top priority is the sale of the board business.
    Discussions underway with many of the same parties to the gfx
    sale discussions(6). This deal could be structured as
    a partnership.

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