Zeev's Turnips Patch-No Politics (ZEEV)

[peace_2_all]

Zeev,

This is what I see about sndk:

"Before 5 p.m. Eastern Standard Time on November 17, 2004, holders may convert their Notes into shares of SanDisk common stock at a price of approximately $9.22 per share, or approximately 108.5 shares of SanDisk common stock per $1,000 principal amount of Notes. Cash will be paid in lieu of fractional shares...."

Why would anyone take cash when they can have shares at 9.22 and turn around and sell for much higher or is there restriction as to when they can sell the converted shares, which, of course does not mean anything as they can short the stock knowing they will replace their shorts with their converted shares. How is this different from CD with a fixed base price? As usual, I appreciate your kind response.

I bought 500 shares on Friday and I don't want to hold if sndk is to be hit because of this conversion.