Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 185.97

-0.4%

Feb 10 3:59 PM EST

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To: Webhead who wrote (6731)	9/16/1997 2:18:00 AM
From: Vector1	of 32384

Webhead, early conversion of the warrants unlikely to happen. If LGND were to try they would probably do it pursuant to an exchange offer where they would offer stock or stock plus cash. However warrant holders would expect to get a substantial premium to be incentivized to trade in the warrants for and equal number of shares. My guess is the number would be about $3 per warrant in cash resulting in the company only receiving net cash of about $25m. Thats very expensive money. V1

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