Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Walter Morton who wrote (1566)	11/3/1998 6:01:00 PM
From: Dr. John M. de Castro	Read Replies (1) of 2742

PMC bought 1,333,333 shares and received 666,667 warrants for a total of $1 million. If you figure that the 1,333,333 shares cost .75 then they got the warrants for nothing. If you figure that the warrants are worth .25 then the shares sold for .625 each. Regardless, when the warrants are converted CIST will have received $1,166,666.75 for 2 million shares or .583 per share. In their initial announcement of the agreement that the agregate sale would be above .48 and it is. John de C

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