Procept (PRCT): 50% rise on high volume. Why? Message Board

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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why?

PRCT 31.32

+1.3%

3:59 PM EST

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To: Gerald Thomas who wrote (131)	4/19/1997 12:43:00 PM
From: Douglas	of 455

Procept's Annual Meeting of Stockholders is June 16, 1997. The meeting will be held at Procept's office in Cambridge, Massachusetts. You can get a look at the PRE 14A (04/11/97) at: sec.gov One of the purposes of the annual meeting(#5 of 6) is to approve an amendment and restatement of Procept's Restated Certificate of Incorporation to authorize 1,000,000 shares of preferred stock. Common stock will remain at 30,000,000 authorized, with 13,771,868 outstanding as of 21 April 1997. It would seem that Procept plans to raise additional cash through the use of preferred stock. They also have approximately 16,000,000 shares of common stock, but unfortunately the market price is too low!

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