Sale of Nullsoft To AOL
In June 1999 AOL simultaneously acquired Nullsoft and Spinner.com in a combined purchase worth approximately $400 million. In a July 21, 1999 SEC S-3 filing by AOL, the transaction was recorded as a payment of 2,863,053 shares of AOL common stock to the 54 stockholders in the two companies being acquired. On July 20, 1999, the last reported sale price for AOL common stock was $113.1875 per share. Frankel's stake of 522,661 shares in the acquisition was worth approximately $59 million.
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“I hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship, or the sale of goods through pretending that they sell, or power through making believe you are powerful, or through a packed jury or caucus, bribery and “repeating” votes, or wealth by fraud.”
—Ralph Waldo Emerson (1803–1882)
“I hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship, or the sale of goods through pretending that they sell, or power through making believe you are powerful, or through a packed jury or caucus, bribery and “repeating” votes, or wealth by fraud.”
—Ralph Waldo Emerson (1803–1882)