Ann: Bonus Options Offer, page-360

Underwriters take on zero risk....if you don't think the options will go higher than purchase price with news flow I would suggest you don't understand how the stock market works. Pretty minimal risk for cash outlay. As traders will want these for leverage and guess what you can only get them in raising if shareholder or underwriter, so guess who is going to have big parcel (underwriter).

I doubt they will hold to maturity as they will look for quick risk free returns. If I could get more bonus options I would - to trade - not to convert.