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Biotech / Medical : Paracelsian Inc (PRLN)
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To: Richard Mazzarella who wrote (566)10/1/1996 8:58:00 PM
From: WWS   of 4342
 
Richard, I'll relent and join the throng. As news goes, today's releae was positive (not negative) on balance. The private placement was a continuation of the original transaction concluded in June and July. The fact that the buyers were the same (certainly would include Traveler's), and that they would decide to increase their stake at a time when the stock price is declining, should be interpreted as good news overall, in spite of the dilution this represents. I can only assume that they were able to "grill" the corporate officers to satisfy themselves as to the viability of the company's approach and future products. At least I hope that this implication is what actually happened before they opened their wallets. Eventually they'll have to file with SEC and then we'll learn the price per share value of the buy. Regards, Bill.
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