Geron: Here's the snip about the warrants from the 8-K:
>>On May 23, 2003, Geron Corporation, a Delaware corporation (the "Company"),
entered into a Restructuring Agreement (the "Restructuring Agreement") with the
holder (the "Investor") of its Series D Convertible Debentures (the
"Debentures"). Before the transaction, the Debentures had a principal amount of
$15.0 million and had accrued $575,342 in interest. Pursuant to the
Restructuring Agreement, the Debentures were amended (i) to add the accrued
interest to principal and eliminate future interest accruals, (ii) to provide
for a fixed conversion price of $5.00 per share, and (iii) to provide for a
mandatory conversion on June 30, 2005 of any Debentures not previously
converted, so long as the Company had complied with the terms of the Debentures.
The Restructuring Agreement also provided for the amendment of the warrants
previously issued to the Investor in connection with the Debentures. The Series
D-1 warrants to purchase 333,935 shares of the Company's Common Stock, expiring
June 30, 2003, and the Series D-2 warrants to purchase 500,901 shares of the
Company's Common Stock, expiring December 31, 2006, were each amended to change
the exercise price to $7.50 per share.<<
Going to short a half position of GERN right here at $5.27.
Also a full position of VXGN at $6.1 the current bid.
Most other picks have been kicking BSCP's butt. Will that last, or will the summer bring it relief? Most biofreaks would prefer the former, I know.
Cheers, Tuck |
