Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.84

+3.8%

Nov 24 3:59 PM EST

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To: Flagrante Delictu who wrote (14234)	2/4/1998 5:07:00 PM
From: Torben Noerup Nielsen	Read Replies (3) of 32384

You guys are a contentious lot! As to the premium one is willing to pay for the warrant, that has a lot to do with individual financial situations and goals. I traded a fair amount of LGND for LGNDW during the last few days because I would like to free up capital and at the same time I do not want to give up on the longer term appreciation potential. Essentially, I managed to free up a lot of margin funds which means lower interest payments to my broker and this without having to really lower the number of shares I will finally have on June 4, 2000 (yes, I intend to exercise the warrants by then!). For that I paid a premium of 1 3/8 per share. To some this may seem high, but for my purposes, it was a good deal. I have been meaning to do this for a while and it just so happened that I looked at the tape and noticed the action. Now my LGNDW shares go into a nice little box where they can stay for a year or two and when the time comes, I will exercise them and get my LGND back. Assuming that all goes well, LGND should be trading over $50 by then and when viewed in that light, the premium seems modest. At least for me. Everyone please realize that there are very few trades that will be viewed as good by everyone. This is so since the valuation of a trade depends so heavily on individual means and goals. Cheers, Torben

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