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Biotech / Medical : Texas Biotech (TXB)
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To: Steve Valliere who wrote (323)9/21/1997 6:38:00 AM
From: sam   of 834
 
The secondary will probably be priced at the price of TXB that day. So, it looks now as if it will be priced at about $5.50 or so (maybe a little more or less). There will be no plugging of the stock before that, but will begin afterwords in earnest (in my opinion). Remember, Smith Kline is purchasing 2M dollars worth of stock (about 350,000 shares) at market. The brokerage houses don't want anyone to think they have inflated the price prior to issuance. LEH's analysts I believe were named C.A. Butler, Ph.D. and R. Rouse (but I may be wrong on that account -- or on any account actually).
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