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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Andrew H who wrote (2093)8/22/1997 2:57:00 AM
From: Vector1   of 9719
 
< I hear the
deal for more cash for cyto is likely to be a convertible preferred to an investment
banking house coupled with coverage, so there may be no immediate dilution. >

What do you mean no immediate dilution. In my experience the kind of preferred deal CYTO will have to do will allow for conversion of the preferred at a price below the current market price. Any stockholder who does not fully factor in the conversion shares is fooling themselves. I don't mean to be bashing CYTO but its a lot harder to raise money when you really need it. Analyst coverage would be good. Lets hope its from a quality shop.
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