Third Quarter and 5M placement
ARIAD Reports Third Quarter 1998 Financial Results
biz.yahoo.com
ARIAD Completes $5 Million Private Placement
biz.yahoo.com
Each share of Series C Convertible Preferred Stock has a stated value of $1,000, plus an accrual amount equal to 5% per annum, and is convertible into common stock of the Company beginning approximately three months after the initial closing, at a conversion price equal to the lower of a Variable Conversion Price or a Maximum Conversion Price geeze, what is all that gobbledegook
So, how many shares of the common do you get for exchanging a
share of the convertible? Guess it will be on edgar soon, these
things always seem kinda stinky for shareholders of the common,
but so far the stock is holding up.
John--I like your idea about extending the life of the warrants,
but I wonder how often such a thing really occurs. Not that I
wouldn't be happy to see them do some things for the little
guys who were already in this. Oh well, I guess they needed
the money, that should buy them a couple more quarters yes,
with what they have on hand they should be in business at least
a year...will have to go over the financial again.
--MM |
