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Biotech / Medical : Ligand (LGND) Breakout!
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To: Hippieslayer who wrote (10633)11/1/1997 5:19:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
Stephen, When LGND went public in 1992 (as LGNDA) Bill Gates took a 9.3% position in LGNDA with the purchase of 600,000 shares for a cost of $7.5 million. 1 share of LGNDA coverted into 1.33 shares of LGND. I think that at the time of the conversion (Spring 1995) Gates (his investment company) sold all or most of his stake in LGND.
Here's one of the related reports:
2/18/93 *Ligand Pharma Investor Is L.P. Of Microsoft's
Gates
(MORE) DOW JONES NEWS 02-18-93
5:06 PM
2/18/93 *Investor Holds 9.3% Cl A Stake In Ligand Pharma
>LGNDA
(MORE) DOW JONES NEWS 02-18-93
4:56 PM
2/18/93 Gates - Ligand Pharma -2-: Holds 600,000 Cl A Shrs
>LGNDA
WASHINGTON -DJ- William H. Gates L.P., a Bothell, Wash.
partnership controlled by the Microsoft Corp. (MSFT) CEO,
holds about a 9.3% stake in Ligand Pharmaceuticals Inc.
(LGNDA) Class A common shares.
In a filing with the Securities and Exchange Commission,
the Gates L.P. and Dominion Income Management Corp., which
does investment management services for the partnership,
said the Gates partnership holds 600,000 Class A shares of
Ligand Pharmaceuticals which were acquired for about $7.5
million. No other details about the acquiring transaction
were included in the filing.
The filing said the purchase was made for investment
reasons.
(END) DOW JONES NEWS 02-18-93
5:21 PM
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