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Biotech / Medical : PARANOID! TIRED OF TALKING TO YOURSELF? LET'S TALK(TTP)
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To: RCMac who wrote (492)9/28/1999 12:49:00 PM
From: LLCF  Read Replies (2) of 626
 
< That notice can be given only after the AVERAGE closing BID over 30 consecutive trading days is above $9.10.>

Looks like a lock then... thanks, wonder if they now have the right to exercise when ever they want, or if a move down in the stock would then preclude them from doing so once they 30 prior days aveage bid was no longer above $9.10?? Hhmmm:

<After the 30-day moving average is above $9.10, the company has up to 15 days to give notice of redemption (although of course, as long as the 30-day average is above the threshold, the 15-day period restarts every day -- nothing limits the right to call for redemption to 15 days after the average first climbs above $9.10).>

< On the Yahoo TTP board, I believe, TTP IR was quoted as saying there were two camps within the company as to whether to call for redemption>

IMO it makes no sense for the company NOT to force an exercise... the company is short the 'put option' [value of stock going below the strike price]... they now have a chance to buy it back for nothing. If they don't, they don't get it, period. Dilution is not an issue since the option to dilute is not theirs, but the warrant holders. Should be interesting.

DAK
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