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Fullmoon

04/15/04 5:52 PM

#37751 RE: SPIN #37749

spin, you are wrong about sell-side pressure............

This isn't a PIPE. This will be a public (secondary) offering, not a private placement. The buyers will most likely be retail that typically do not hedge. Will it be dilutive? yep, but in the long run will that dilution matter? probably not.

And, maybe there's another positive with this deal: perhaps Wave can get some research coverage.