Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 198.07

0.0%

12:50 PM EST

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To: Earl Sacerdoti who wrote (8134)	10/1/1997 5:43:00 AM
From: Henry Niman	of 32384

Earl, To exercise LGNDW, Farallon has to pay 7 1/8 each. If stock is used for part of the ALRI call, then they can use that LGND to cover. Moreover, they will get cash for any ALRI not called with stock and the cash can be used to exercise LGNDW. I'm not sure why they would do anything before Nov 3.

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