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Biotech / Medical : INVR - Innovir Labs - On it's way back.
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To: Skiawal who wrote (17)12/17/1996 9:30:00 AM
From: Rob C.   of 65
 
Rich,

First....
"VIMRx will purchase 9.5 million shares of Innovir stock from The Aries
Funds for $12.35 million of VIMRx stock, valued at the average trading price of

This is how I perceived the deal. I may be simplifying but how knows:

Second....
"VIMRx Holdings Ltd., valued at $13 million (including cash of $4 million)
-- for 8.7 million shares of Innovir stock valued at $1.50 a share, plus five-year
warrants to purchase an additional two million shares of Innovir stock (one million at an
exercise price of $1.00 per share and one million at $2.00 per share)"

Here is how I am looking at the deal:
12.35mill/9.5mill = $1.30 per share
13mill/8.7mill = $1.49 per share

I figure that after the deal is completed the buying will start on the open market to get the price up to at least the price by which VMRX paid for the stock.

Just my opinion...

Regards,

Rob
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