Uploaded | DDT |>| MON.AUG,960819,14:25 |

Fair Access to IPO

E-mail exchange with Jim Clark , Chairman of NetScape the week before their IPO . 

To:   >INTERNET:jim@netscape.com  JimClark@Netscape
Subj: Fair access to IPO

I wish to join the ' when issued ' bidding for your public offer .
Please aim me at the interface .

I got a cold call to my machine in NYC from a \SamGrimsby;800-7240761:433
Friday alerting me to your IPO . I mentioned to him I downloaded your browser
Wednsday night to interface with  PAWWS  .

As I said to Jay in : Subj: When u b heer ?
 To: jay3@Cookie.secapl.com / JayWhipple3 / 9506241445-5

   My now mantra is :  WwW is doing what BillGates was never able to do -
   - drag me out of CoSy .

CoSy is my open APL notecomputer environment I`ve been living in since `84 .

Coherent Systems, Inc           Bob Armstrong                     288 Vine Ave
42 Peck Slip                         @ -->             Highland Park, IL 60035
New York, NY 10038.1725            til 0808                       708.432.0385
212.285.1864               70421.2425@compuserve.com        Fax by Arrangement

Message sent to >INTERNET:jim@netscape.com     Off at 00:20 CDT 31-Jul-95
From: Bob Armstrong - CoSy -




Date:  31-Jul-95 13:53 CDT     From:  Jim Clark > INTERNET:jim@netscape.com
Reply to: Re: Fair access to IPO       Sender: jim@netscape.com
Date: Mon, 31 Jul 1995 11:52:09 -0700
X-Sender: jim@pop.mcom.com

To: Bob Armstrong - CoSy - <70421.2425@compuserve.com>
From: jim@netscape.com (Jim Clark)     Subject: Re: Fair access to IPO

Sorry: All the directed stock has been committed. But, it anyonw had
planned to own Netscape for an extended period, there is no significant
advantage to buying at the IPO. Good luuck. And read the risk factors
section of the Red Herring.

>I wish to join the ' when issued ' bidding for your public offer .
> \/\/\/\/\/
>212.285.1864    70421.2425@compuserve.com    Fax by Arrangement

Jim Clark / Chairman / Netscape Communications
To: Bob Armstrong - CoSy - > [70421,2425]



To:   >INTERNET:jim@netscape.com  JimClark@Netscape
Subj: Re:Fair access to IPO

Thanks for your response time .

> But, it anyonw had planned to own Netscape for an extended period, there is
> no significant advantage to buying at the IPO.
 ^ May or may not be tru .

My first dip in an IPO : SuperconductorTechnology ( SCON ) is a better deal
now than when I indulged .

But , I see you as more a hi visibility BostonChicken which may >2x on the
first trades -- a RoR never to be repeated .
I`ve ordered a prospectus from Morgan Stanley and maybe I`ll find youall
are setting a stratospheric enough price to avoid an initial discontinuity .

It remains the case that IPO market making is far from efficient .

I look forward to our inevitable meeting .                           -- BobA

Message sent to >INTERNET:jim@netscape.com / Off at 23:38 CDT 31-Jul-95