PARANOID! TIRED OF TALKING TO YOURSELF? LET'S TALK(TTP) Message Board

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Biotech / Medical : PARANOID! TIRED OF TALKING TO YOURSELF? LET'S TALK(TTP)

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To: Arthur Radley who wrote (280)	1/28/1999 10:35:00 AM
From: Biomaven	Read Replies (1) of 626

TexasDude, Based on the release, this isn't a convertible - just a straight offering at a discount to the current price. They apparently sold shares at $2.75 (notice they didn't disclose the price directly <G>). So if stock price was 3.25, this would be a 15% discount, which is not extreme for a small company in today's market. A discounted common offering like this is infinitely preferable to a toxic convertible. The warrant price was presumably adjusted slightly because it had some anti-dilution provisions. Peter

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