Biotime-Nasdaq's best kept secret? Message Board

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Biotech / Medical : Biotime-Nasdaq's best kept secret?

BTIM 0.0001000

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Nov 13 9:30 AM EST

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To: Stephen How who wrote (655)	2/10/1998 8:49:00 AM
From: Jim Roof	Read Replies (2) of 1432

A rights offering does not require the shareholder to 'fork' over money to keep his shares. BTIM was at 30 when the rights were issued at a face value of 1 dollar each - immediately BTIM's stock reflected this distribution by lowering to 29 - the net value to the shareholder was unchanged EXCEPT that the additional shares could be purchased at a 10% discount to the open market! Your characterization could not have been more wrong. You say that you understand that a rights offering is not a preferred way to keep a company funded. Where did you hear that? And what is the reasoning behind it? If Segall wants to mortgage his house to buy more shares it may not be wise but rights offerings in themselves make no such requirement. You are obviously stretching hard to make a bearish scenario from what is clearly bullish. If you could just do the opposite then the Whitehouse may be needing you shortly. Jim

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