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Biotech / Medical : Biotech for less than cash value
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To: rkrw who wrote (179)3/7/2003 5:18:53 PM
From: tuck   of 684
 
Oh, right, and $21 million in stock. There were about 27 million shares out and $167 million in cash versus $700k in debt. It was estimated that GLGC would issue 3.1 million shares based on 10 day average in the high $5s, so figure almost 4 million shares issued, raising the share count to 31 million, using current prices. That's $4.40 in cash. Hmmm. OK, pretty close to parity with its cash position, assuming that the acquiree had some cash.

Thanks for the heads up.

Cheers, Tuck
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