Qualcomm Inc (QCOM)

[Jim Mullens]

K-qc, Re: Nextwave Reorg / QCOM and your question- “Will Qualcomm be able to recouperate it's investment after NextWave's Reorganization?”

Per the following snip in your post, It appears the answer to your question is – yes! --

“The Plan provides for the payment of 100% of allowed creditor claims, plus interest, and a distribution of cash to equity holders, along with an option for those holders to elect to receive either an additional cash distribution or, subject to certain limitations, an equity interest in a new operating company that will be spun-out to shareholders to pursue broadband wireless market opportunities.” <<<<<<<<<<<<<<<

Last Feb I posted the following, which indicates that Qualcomm was both an equity and debt holder of Nextwave.

XXXXXXXXXXXXXXXX

Re: Nextwave’s $1.4B FCC approval.

Does anyone have any additional insight on Nextwave’s plans and the Q’s involvement?

Q’s Feb 2002 AM proxy stated-

“At September 30,2001, we owned 6,516,666 shares of Series B common stock and held warrants to purchase 1,111,111 shares of series B common stock for $3 per share. We also held a $0.4 million promissory note convertible into 1,019,444 shares of series C common stock.

In August 2001, we committed to purchase 2,000,000 shares of Series A preferred stock in the reorganized Nerxtwave for $300 million”......”subject to approval by the Bankruptcy Court on or before October 31, 2001”.......”The approvals ....have not been obtained and we are entitled to terminate our investment agreement...”

Apparently the Q still holds 6.5M Newtwave shares and the rights to another 2.1M