Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (2421)	2/6/1998 9:36:00 PM
From: phbolton	Read Replies (1) of 18691

Roger: news on SEPR secondary out "> MARLBOROUGH, Mass. -- Sepracor Inc. (Nasdaq:SEPR) today announced that it has priced and increased the size of its previously announced $130 million offering of Convertible Subordinated Debentures due 2005. The offering size has been raised to $165 million, the Debentures will have an annual coupon of 6.25%, will be convertible into common stock at $47.3688 per share, and will not be redeemable for three years. The Debentures have not been registered under the Securities Act of 1933. Accordingly, the Debentures may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act." first glance looks like it is a quite reasonable one with about a 25% premium over current price for conversion

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