Wednesday, May 31, 2006

Vonage Buying Back Unwanted Shares

After setting the record for coming out of the gates as the worst performing IPO ever, Vonage (VG) is now offering to buy back the shares from underwriters that consumers (who never had to put any money down) don't want.

The tactic was outlined in the Vonage prospectus. Seems ever so careful business writers missed that point when writing articles about how good or bad the deal to consumers would be. Seems the smart consumers (myself not being one) got a free ride on the Vonage IPO only needing to pay if it went up in the first month.


Post a Comment

<< Home