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Biotech / Medical : Biotech Valuation

CRSP 55.11

-2.6%

Nov 7 9:30 AM EST

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To: Biomaven who wrote (7782)	1/21/2003 10:38:28 PM
From: IRWIN JAMES FRANKEL	Read Replies (1) of 52153

Floorless convertibles - It seems that the floorless convertible is still preferable to conventional bonds since when they cannot be repaid the company goes into bankruptcy and the bondholders own the whole company leaving the stockholders with nothing. Even dramatic dilution is better than that. ij

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