OSI Pharmaceuticals (OSIP) - formerly Oncogene Message Board

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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene

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To: celeryroot.com who wrote (95)	2/25/2000 7:44:00 PM
From: Miljenko Zuanic	Read Replies (1) of 447

Why company sold shares almost for free? At ~50% discount to market! biz.yahoo.com OSI Pharmaceuticals, Inc. announced today that it has entered into definitive purchase agreements to raise $56 million in gross proceeds through a private sale of 3.325 million newly-issued shares of its common stock to a select group of institutional investors. FleetBoston Robertson Stephens acted as placement agent for the Company. <snip> FBRS is doing great job when it come to shareholder value! First class dilution job! First NBIX and now OSIP. <grrr> Who is next? While, in 4Q '99 none could predict today finance WINDOW and one can argue with explanation for NBIX, for OSIP there is no excuse, imo. Hope FBRS stay out of VRTX. Miljenko

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