AtheroGenics, Inc.{AGIX}-nasdaq Message Board

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Biotech / Medical : AtheroGenics, Inc.{AGIX}-nasdaq

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To: Secret_Agent_Man who started this subject	1/30/2001 3:51:02 PM
From: keokalani'nui	Read Replies (1) of 332

If you missed it, you should listen to the H&Q presentation. As for the lockup, from the prospectus: Upon completion of this offering, we anticipate that our executive officers, directors and greater than five percent shareholders, along with their affiliates, will, in the aggregate, own approximately 48.6% of our outstanding common stock. Sounds reasonably large. Ave. price of their shares though is $2.41. I doubt if those big hitters on the Board are looking for a double. The Series C Preferred was convertible into common stock...upon the completion of an underwritten public offering of the Company's common stock providing net proceeds of at least $15,000,000 or an offering price of $7.50 per share. At the time $7.50 probably looked slam-dunk-achievable. It looks like the C was priced at $3 in 1999. The IPO went out at $8 last year. I take that all to mean that this group still ought to be disappointed in $5/share, so selling might be quite muted. Though the thirst for a liquidation event may prevail.... --Wilder

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