Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.50

-1.6%

3:59 PM EST

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To: Mudcat who wrote (29438)	11/19/1999 1:12:00 PM
From: bob zagorin	Read Replies (1) of 32384

i guess i still don't get it. right now, with the 1.12 inducement, the net exchange is $6. so, if i have a warrant, i pay $6 and get a share of common worth just over $9. so lgnd gets rid of the warrant for $3 in equity. if the stock were at 15.12 and there was no inducement, i would pay 7.12 and get a share of stock worth $15. so it would cost lgnd $8 worth of equity to retire the warrant. what's wrong with this logic?

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