watch CNXT moving with mspd
cnxt holds warrant to purchase 30 million shares of mspd
We hold a warrant to purchase 30 million shares of common stock of Mindspeed. For financial accounting purposes, this is a derivative instrument and the fair value of the warrant is subject to significant risk related to changes in the market price of Mindspeed’s common stock. As of December 31, 2005, a 10% decrease in the market price of Mindspeed’s common stock would decrease the fair value of this warrant by approximately $4.1 million. At December 31, 2005, the market price of Mindspeed’s common stock was $2.35 per share. For the quarter ended December 31, 2005, the market price of Mindspeed’s common stock ranged from a low of $1.68 per share to a high of $2.47 per share
