Ligand (LGND) Breakout! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Ligand (LGND) Breakout!

LGND 192.29

-0.4%

Dec 16 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Henry Niman who wrote (13458)	1/18/1998 11:04:00 PM
From: JOEBT1	Read Replies (1) of 32384

Henry, I just got back from vacation and caught up on all the posts. I may be missing something but I don't see why anyone including Farallon would convert warrants to common stock since they would lose the 1 1/2 to 2 point premium in the price of the warrant. More likely Farallon is shorting LGND to capture (lock in) the premium. If they short LGND shares equal to the number of warrants they hold they will have a "null" position in LGND and will lock in warrant premium profits. They will hold the short and long position until the warrants expire or when the warrant premium is small and then convert warrants and deliver the shorted stock.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next