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Biotech / Medical : Regeneron Pharmaceuticals
REGN 714.62+1.5%11:30 AM EST
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To: scaram(o)uche who wrote (214)2/23/1998 1:27:00 AM
From: Czechsinthemail  Read Replies (1) of 3559
 
Rick,

You're right. Interneuron was the parent and remains the biggest shareholder. This is from the IPO information:

Concurrently with the closing of the initial public offering, Progenitor will sell to Amgen Inc. an additional $5.5 million of Progenitor Common Stock at the initial public offering price pursuant to a stock purchase agreement and related license agreement between Progenitor and Amgen Inc.

Progenitor also filed a registration statement with the SEC relating to the proposed acquisition by Progenitor of Mercator Genetics, Inc. The shares available for issuance under the registration statement for the Mercator acquisition would be an amount of up to $22.0 million of
Progenitor Common Stock, based upon the initial public offering price. Based on the proposed terms of the offering, following the offering and completion of the Mercator acquisition, Interneuron will own approximately 43% of Progenitor's outstanding Common Stock (approximately 41% if the underwriters' over-allotment option is exercised in full). In connection with the acquisition, Progenitor will incur non-recurring charges to operations estimated to aggregate approximately $30.0 million, a portion of which are non-cash charges related to the acquisition of in process research and development. Interneuron will record a portion of these charges based on its ownership interest in Progenitor.
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