Intel Corp (INTC)

[DewDiligence]

>> I thought that statement was particularly FUD-like, especially considering that actually premium was right smack in the middle of what you said was "typical".<<

spokeshave: Perhaps I am at fault for overemphasizing the conversion premium as a percentage rather than the raw conversion price of $7.37 -- which is the number that ultimately affects the dilution of common shareholders from conversion of the notes.

Considering the precipitous decline in AMD’s stock price this year, the conversion price of $7.37 does strike me as shockingly low. After all, AMD was above $20 in early 2002 and was above $10 as recently as August. For AMD shareholders, it is unfortunate that AMD waited until now to raise capital on terms that are far less favorable than what would have been available fairly recently. Regards, Dew