Imclone systems (IMCL) Message Board

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Biotech / Medical : Imclone systems (IMCL)

IMCL 0.159

0.0%

Oct 5 5:00 PM EST

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To: QuietWon who wrote (173)	1/7/1999 10:40:00 PM
From: CPAMarty	Read Replies (2) of 2515

here is a PR dated 12/15/98 imclone.com does anyone know how the premium in the following paragraph of this announcement is to be calculated? The late stage equity-based milestones are to be paid through the purchase of common stock of ImClone at a premium to the then market price. The agreement permits Merck KGaA, through a combination of those milestone payments, conversion of ImClone preferred shares purchased by Merck KGaA in their December 1997 Preferred Stock Purchase Agreement, and open market purchases, to own up to 19.9% of ImClone common stock.

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