BRIAN YEH PROMETHEAN INVESTMENT GROUP, New York)
Specialists in the structuring, execution and management of private investments in non-traditional convertible securities of US public corporations. The funds are called Heracles and Themis, and the strategy is based upon structures that are intended to protect investors from downward market movements of the underlying public equities, while preserving opportunities to benefit from volatility and upward appreciation of the underlying equities. Annualised
returns of 30% since inception mid 1996; managing approximately $100 million. Both Brian and James were at Fletcher Asset Management prior to founding Promethean. edgeevents.com
relevant is 6/8/98-> sec.gov
biz.yahoo.com
NORWALK, Conn., Aug. 6 /PRNewswire/ -- Purdue Pharma L.P. today announced the execution of a definitive agreement
whereby Purdue Acquisition Corporation, an indirect wholly-owned subsidiary of Purdue Pharma L.P., would offer to
purchase for cash all outstanding shares of CoCensys, Inc. (OTC Bulletin Board: COCN - news) common stock for $1.16 per
share. The board of directors of CoCensys has unanimously approved the transaction and resolved to recommend that
CoCensys shareholders accept the offer.
Under the terms of the merger agreement, Purdue Acquisition Corporation will promptly commence a tender offer for all of the
outstanding common shares of CoCensys, Inc. Simultaneously with the execution of the merger agreement, Purdue Acquisition
Corporation entered into a purchase agreement with the holder of the Series E Convertible Preferred Stock of CoCensys,
pursuant to which Purdue Acquisition Corporation has agreed to purchase all of the Series E Preferred Stock upon
consummation of the tender offer. The Series E Preferred Stock is convertible into approximately 28% of the fully diluted
shares of common stock of CoCensys. Purdue Acquisition Corporation plans to convert the Series E Preferred Stock into
common stock immediately following consummation of the tender offer. Purdue Acquisition Corporation's tender offer is
conditioned upon, among other things, there being validly tendered and not withdrawn such number of shares that, when added
to the number of shares of common stock to be received by Purdue Acquisition Corporation upon conversion of the Series E
Preferred Stock, equals at least ninety percent of the fully diluted outstanding common shares of CoCensys. After the
consummation of the tender offer, Purdue Acquisition Corporation has agreed to acquire any of the remaining outstanding
shares of CoCensys pursuant to a second-step merger at the same price per share paid for shares tendered. |
