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Biotech / Medical : ARIAD Pharmaceuticals
ARIA 23.990.0%Feb 17 4:00 PM EST
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To: Jongmans who wrote (483)2/8/1999 9:06:00 AM
From: Dr. John M. de Castro   of 4474
 
Martin, this is an interesting interpretation. I wonder what you think of the phrase

"but shall exclude the number of shares of Common Stock which would be issuable upon (i) conversion of the remaining, non converted etc"

This suggests that the series "C" preferred shareholder could get around this stipulation by doing more than one conversion and selling off the shares from the prior conversion, before converting again. What's your take on this?

John de C
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