Trega Biosciences (TRGA), formerly HPIP Message Board

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Biotech / Medical : Trega Biosciences (TRGA), formerly HPIP

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To: scaram(o)uche who wrote (148)	2/1/2001 1:19:58 PM
From: bob zagorin	of 152

well i got to book my loss and i've started buying TRGA again. unless i'm missing something, the stock will be worth $1.35 of LEON which is an interesting co. "...This transaction values Trega at approximately $35 million, or an estimated $1.35 per share on a fully diluted basis, subject to certain pre-closing adjustments. The final exchange ratio will depend on a number of factors, including LION's average closing price per ADS for the 10 trading days ending 2 trading days prior to the meeting of Trega stockholders. The $35 million valuation of Trega presumes that such price will not be lower than $68 or greater than $92. If LION's average closing price per ADS over this time period is below this range, the exchange ratio will be based upon a deemed price of $68 per LION ADS; if such price is above this range, the exchange ratio will be based upon a deemed price of $92 per LION ADS..." LEON has sold off some but now appears to be improving. i think i'll be getting LEON worth $68 which is a nice gain from here. not totally sure on all this so i'm not betting the ranch.

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