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Biotech / Medical : Palomar Medical Technologies, Inc.
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To: Spank who wrote (556)9/18/1997 11:56:00 PM
From: Ted Molczan   of 708
 
Spank,

I don't know a great deal about Coherent.

One aspect of the LOI between PMTI and COHR that interests me is the warrant
PMTI granted COHR to purchase stock. It would be interesting to know how
many shares, and at what exercise price. Sounds like potential for more dilution
down the road. On the other hand, maybe the cash part of the deal will help
PMTI pay off some of the existing convertible debentures, and reduce the huge
overhang of reserved shares. Details should show up in an SEC filing sooner or
later.

Ted Molczan
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