SI
SI
discoversearch

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.
Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Lawrence Burg who wrote (3184)4/2/1998 3:39:00 PM
From: Charles J  Read Replies (1) of 34592
 
SciClone Completes $4 Million Equity Financing with conversion prices at a hefty premium. I wonder if they know something. It is already selling in three countries with pending approvals in at least 15 others.

What does Secret Squirrel know. Is he/she still accumulating?

This is an excerpt from the release in yahoo.

"SciClone issued 661,157 preferred shares at a price of $6.05 per share, a premium of approximately 57% over the closing bid price of the Company's common stock on the closing date (April 1, 1998). The preferred shares pay no dividends and are convertible into common stock on a scheduled basis over the next five years at prices based on the
market price of the common stock during a pricing period preceding conversion. The investors also received 100,000 five-year warrants to purchase common stock at $5.67 per share. If the investors convert their preferred shares at a price exceeding $6.00 per share, they will receive the right to purchase additional shares of common stock at a price no less than $6.00 per share, which if fully exercised, would result in additional proceeds to the Company of not less than $3.96 million. Reedland Capital Partners, a division of the Financial West Group, acted as placement agent."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News