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Biotech / Medical : ARIAD Pharmaceuticals
ARIA 23.990.0%Feb 17 4:00 PM EST
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To: Biomaven who wrote (368)11/13/1998 9:24:00 PM
From: John Metcalf  Read Replies (1) of 4474
 
That's a good thought, Peter, that Ariad has a plan to redeem this convertible, and that it's just a temporary financing mechanism.

I may be missing something, but the details of the HMR agreement indicate (to me) that they have $25mm more available in loans from HMR. Perhaps the agreement precludes them from using it now, or using it for the support of general corporate purposes.

But -- if available -- I don't understand issuing $5mm in floorless cv instead of drawing on the credit extended.
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